· Asian shares buoyed by coronavirus vaccine hopes
Asian shares firmed on Monday on renewed hopes for a coronavirus vaccine after AstraZeneca resumed its phase-3 trial though sentiment was still cautious ahead of a big week of central bank meetings in UK, Japan and the United States.
Most major markets across Asia were in the green with MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rising 0.9% for its second straight session of gains.
· Japan shares end firmer as ruling party elects new leader
Japanese shares ended higher on Monday after Chief Cabinet Secretary Yoshihide Suga won a landslide victory in a ruling party leadership election, paving the way for him to succeed Prime Minister Shinzo Abe.
The benchmark Nikkei share average closed 0.74% higher at 23,579.48, while the broader Topix gained 0.93% to 1,651.91, hitting the highest level since Feb. 21.
Japanese Chief Cabinet Secretary Yoshihide Suga won the party leadership race after financial markets closed on Monday. Suga is set to become prime minister on Wednesday, succeeding Abe, the nation’s longest-serving leader.
· China stocks rise as STAR Market shines on ETF approval, upbeat data
China stocks finished higher on Monday with Shanghai’s Nasdaq-style STAR Market leading gains after securities regulator approved the first batch of exchange-traded funds (ETFs), which are expected to draw fresh funds towards the market.
Analysts said investor sentiment was also supported by recent upbeat economic data, suggesting broad economy was bouncing from the coronavirus shock faster than expected.
The Shanghai Composite index was up 0.57% at 3,278.81. The blue-chip CSI300 index closed 0.51% higher.
· European markets open higher, boosted by coronavirus vaccine hopes
European stocks opened higher Monday, boosted by the resumption of coronavirus vaccine trials.
The pan-European Stoxx 600 climbed 0.6% at the start of trading, with basic resources adding 1.1% to lead gains as all sectors and major bourses entered positive territory.
Global stocks are receiving a boost from news that Phase III trials of AstraZeneca’s coronavirus vaccine have resumed in the U.K. after trials were halted last week over safety concerns. The news raises hope that one of the leading candidates in the global race to develop an injection which can stem the pandemic is back on track.
AstraZeneca said it received confirmation from the United Kingdom’s Medicines Health Regulatory Authority that it was safe to resume clinical trials. The company declined to disclose medical information about the pause of the trial, but indicated earlier this week that a potentially unexplained illness was under investigation.
Reference: CNBC, Reuters
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