Asian Stocks Up on Hopes for Vaccine and Economies Reopening

Benchmarks in Shanghai, Tokyo, Hong Kong and Australia all advanced

Asian shares rose Tuesday on optimism about a potential vaccine for the coronavirus after hopes for a U.S. economic recovery in the second half of the year sent Wall Street into a rebound.

Japan’s benchmark Nikkei 225 added 1.9% in morning trading to 20,517.42. Australia’s S&P/ASX 200 jumped 2.0% to 5,569.20. South Korea’s Kospi was up 1.8% to 1,972.73. Hong Kong’s Hang Seng gained 1.8% to 24,362.80, while the Shanghai Composite edged up 0.5% to 2,889.42.

“The mood is assertively risk-on with sentiment having been tipped over by fresh hopes sparked for a COVID-19 vaccine,” said Jingyi Pan, market strategist for IG. […]

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