Asian stocks rise after Wall Street highs and on vaccine optimism

Wall Street’s advance Friday was led by stocks that would benefit if vaccinations and government spending boost the U.S. economy as much as expected.

The Shanghai Composite Index SHCOMP, +0.50% rose 0.7% to 3,443.55 and the Nikkei 225 NIK, +0.71% in Tokyo advanced 1.1% to 29,484.57. The Hang Seng : HSI, -0.07% in Hong Kong added 0.3% to 28,437.46. Markets have been swinging between optimism that vaccines might allow business and travel to return to normal and anxiety over setbacks in distribution and concern about possible inflation after massive government stimulus.

The Dow Jones Industrial Average DJIA, +1.39% rose 1.4%, to 33,072.88. The Nasdaq Composite COMP, +1.24% climbed 1.2%, to 13,138.72, though it is is 6.8% below last month’s record high.

So

have they never heard of *INFLATION* 🙄

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