Asian shares grow on data, vaccine optimism

Tuesday, 01. December 2020 07:31

Major stock markets in the Asia-Pacific region traded higher on Tuesday with investors focusing on coronavirus vaccine development and upbeat data that hinted the recovery from the crisis could be faster than anticipated. Moderna filed for its mRNA-1273 vaccine's approval with the United States Food and Drug Administration (FDA), while United States Vice President Mike Pence said that a COVID-19 vaccine could enter distribution in "just a few weeks," boosting global optimism over containing the pandemic.

On the data front, China's manufacturing activity grew at the fastest pace since 2011 in November, according to a survey conducted by the IHS Markit.

The Nikkei 225 ended the session jumping 1.34%, while the S&P/ASX 200 in Australia and the KOSPI in Seoul climbed 1.08% and 1.65% at the closing bell, respectively. The Shenzhen Composite surged 1.87% at 7:30 am CET, the Shanghai Composite soared 1.80% and the Hang Seng added 1% concurrently. Meanwhile, the yen stood virtually unchanged against the dollar, going for 104.3555 7:28 am CET.

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