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Vaccine focus drives Asian stocks to record highs | Malay Mail

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SYDNEY, Nov 16 — Asian equities hit a record high today as investors set aside fears about rising coronavirus cases and bought stocks, cheered by data showing a robust recovery in China and Japan. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 1.1 per cent to hit its highest...

Asian equities hit a record high today as investors set aside fears about rising coronavirus cases and bought stocks. — Reuters pic

S&P 500 futures rose 0.9 per cent, Nasdaq 100 futures leapt 1 per cent and European futures were up strongly with EuroSTOXX 50 futures up 0.9 per cent and FTSE futures up 0.6 per cent late in the Asia session. 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.

“A Northern hemisphere slowdown will inevitably appear ... probably prompting more easing by the Federal Reserve and the European Central Bank,” said Oanda analyst Jeffrey Halley.

 

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