· Global stocks up, bonds down as vaccine shields against second-wave worries
Bonds dropped and stocks gained on Wednesday, as news of a working COVID-19 vaccine seemed to inoculate investors against worry about surging infections, while the kiwi leapt as traders pared bets on New Zealand imposing negative interest rates.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4% and Japan’s Nikkei rose 1.8%, although most of the action was switching between stocks as investors sold coronavirus winners to buy discounted losers.
· Nikkei ends at over 29-year high on economic recovery hopes
Tokyo stocks closed up Wednesday, extending their winning streak to seven days and lifting the benchmark Nikkei to an over 29-year high, on growing expectations of an early global economic recovery following progress in the development of a coronavirus vaccine.
The 225-issue Nikkei Stock Average ended up 444.01 points, or 1.78 percent, from Tuesday at 25,349.60, its highest close since June 4, 1991. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 28.27 points, or 1.66 percent, higher at 1,729.07.
· European markets edge higher as vaccine cheer persists
European stocks were modestly higher Wednesday morning, continuing to climb as hopes rise over a forthcoming coronavirus vaccine.
The pan-European Stoxx 600 rose 0.5% in early trade, with utilities adding 1.4% to lead gains while banks fell 0.8% after rallying at the start of the week.
Reference: Reuters, CNBC
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