Asian markets witness jump fuelled by vaccine, US stimulus hopes
SYDNEY (AUSTRALIA) – On Monday, Asian markets showed an advance toward a recent 2-1/2-year peak fuelled by hopes of a US stimulus package and a coronavirus vaccine by the end of this year.
The pan-region Euro Stoxx 50 futures added 0.25% while German DAX futures were slightly higher and London’s FTSE futures were down 0.07% in early European trades.
MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.5% for the second consecutive day of gains, paring back slightly after third-quarter gross domestic product (GDP) data from China.
In eight of the 10 sessions, the index has risen amid a rally in risk assets fuelled by the hopes of a coronavirus vaccine and expectations of a so-called “blue wave”, which would see the Democrats win the presidential race.