Asian stocks soar to record high on vaccine optimism and strong economic data

Sydney — Asian stocks hit a record high on Monday as vaccine optimism and strong economic data from China and Japan outshone worries about rising coronavirus cases, lifting just about every sector.

S&P 500 futures rose 0.6% after the index’s record close on Friday, Nasdaq 100 futures leapt 1% and European futures were up strongly with EuroStoxx 50 futures up 0.8% and FTSE futures up 0.5%. Japanese economic growth, which beat records and forecasts to pull the world’s third-largest economy out of recession and better-than-expected industrial output in China added to the enthusiastic mood, as did a weekend trade deal.

Axios reported that Trump plans a flurry of aggressive policy moves against China in the next 10 weeks. On the Brexit front, the departure of hardline adviser Dominic Cummings from Downing Street is seen as a positive, perhaps allowing more British concessions, but chief negotiator David Frost said on Twitter that talks “may not succeed”.

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