TOKYO (JAPAN) – Asian shares marked a record high and US stock futures registered gains on Wednesday as investors tracked positive news on coronavirus shots and ongoing efforts to launch more stimulus packages.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.65%. At one point the index reached 647.78, an all-time peak.
MSCI’s gauge of stocks across the globe also hit a record high.
Australian shares gained 0.61%. Japan’s Nikkei rose 1.27% to approach a 29 1/2-year high. Sentiment got an added boost after Japanese data pointed to a rebound in capital expenditure.
South Korean stocks also jumped by 1.6% to trade near a record high. Shares in China bucked the trend and fell 0.68% on profit taking.
Euro Stoxx 50 futures rose 0.45%, German DAX futures were up 0.37%, and FTSE futures in London added 0.48%.
US S&P 500 e-mini stock futures rose 0.23% after shares on Wall Street notched new record highs on Tuesday, boosted by positive vaccine news and seeming progress on US stimulus talks.
The British pound was little changed before make-or-break talks on a trade deal between Britain and the European Union.
“While hopes are still alive that a fresh stimulus package for the United States will be agreed on soon, it is looking less likely a Brexit deal will be made with negotiators from both sides acknowledging a deal may not be achieved,” analysts at ANZ Bank wrote in a research memo.
“The next 24 hours will be critical and is likely to cause market volatility depending on what is or isn’t agreed.”
The Dow Jones Industrial Average rose 0.35% on Tuesday, the S&P 500 gained 0.28% and the Nasdaq Composite added 0.5%.
US policymakers continued to negotiate over additional stimulus to help offset the economic impact of the pandemic while pursuing a stopgap government funding bill.
Leaders in both parties remain adamant a deal must be struck but are still working through sticking points, including aid to state and local governments and business liability protections.
The steady march of positive news on COVID-19 vaccines helped lift investor spirits.