Asian stocks rise after vaccine optimism drives Wall Street to record highs

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Asian markets were set to climb on Wednesday after Wall Street indexes closed at record highs as investors grow increasingly hopeful about a vaccine to combat rising COVID-19 cases and an economic recovery.

FILE PHOTO: People wearing protective face masks, following an outbreak of the coronavirus, are reflected on a screen showing Nikkei index, outside a brokerage in Tokyo, Japan February 28, 2020. REUTERS/Athit Perawongmetha

MSCI’s gauge of stocks across the globe gained 0.09%. In early trade, Australia’s S&P ASX 200 also rose about 0.11%. Pfizer Inc and Germany’s BioNTech SE sought emergency approval of their vaccine candidate from the European regulator on Tuesday. Competitor Moderna Inc also applied for emergency approval from the European regulator on Tuesday.

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