· Asian markets jump on vaccine, U.S. aid hopes; China data caps gains
Asian markets advanced toward a recent 2-1/2-year peak on Monday powered by hopes of a U.S. fiscal package and expectations of a coronavirus vaccine by the end of this year, though gains were held back by weaker-than-expected Chinese economic data.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS climbed 0.5% for its second straight day of gains, paring back slightly following third-quarter gross domestic product (GDP) data from China.
Boosting overall sentiment, drugmaker Pfizer Inc PFE.N said on Friday it could have a coronavirus vaccine ready in the United States by the end of this year.
Investors are also concerned about rising coronavirus cases. Global coronavirus cases rose by more than 400,000 for the first time late on Friday, a record one-day increase as much of Europe enacts new restrictions to curb the outbreak.
· Japan shares end higher on fresh U.S. stimulus hopes
Japanese shares ended higher on Monday, tracking a gain in Wall Street futures in Asian trade, on hopes of a new U.S. coronavirus relief deal before the presidential election.
The benchmark Nikkei share average rose 1.11% to close at 23,671.13, while the broader Topix gained 1.25% to 1,637.98.
Both of the indexes marked their biggest daily gains since Oct. 5.
· China stocks end lower after GDP data disappoints
China stocks reversed earlier gains to close lower on Monday, weighed down by industrial and healthcare firms, after the country reported a weaker-than-forecast GDP growth for the third quarter.
The blue-chip CSI300 index fell 0.8%, to 4,755.49, while the Shanghai Composite Index lost 0.7% to 3,312.67. The CSI300 index had jumped as much as 1.2% and the Shanghai Composite 1% before changing course.
Ant Group wins approval from Chinese regulators for the Hong Kong leg of its blockbuster IPO
· European markets open higher on vaccine, U.S. stimulus hopes
European stocks opened higher on Monday as hopes of a U.S. stimulus deal in the coming weeks and a coronavirus vaccine by year-end returned to the fore.
The pan-European Stoxx 600 climbed 0.8% in early trade, with banks adding 1.3% to lead gains as all sectors and major bourses entered positive territory.
Global markets have been bolstered after U.S. House Speaker Nancy Pelosi said Sunday that although differences remain between congressional Democrats and White House negotiators, she was optimistic about pushing through legislation on a fiscal stimulus deal before the Nov. 3 election.
Reference: Reuters, CNBC
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