Asian stocks rally as investors applaud vaccine development

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Asian share markets mostly shot higher on Tuesday driven by regional airline, tourism and travel stocks as global investors applauded progress in the development of a coronavirus vaccine which lifted confidence in a world economic recovery.

Pfizer’s announcement jolted European shares to an eight-month high, building on expectations of more stable trade policies following the U.S. election.

Senator Mitch McConnell said in a speech that President Donald Trump was well within his rights to look into charges of election “irregularities” but did not offer any evidence of fraud.The yen strengthened 0.3% to 105.03 per dollar, while sterling was last trading at $1.3174, up 0.09% on the day.

 

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