Asia markets lifted by fresh vaccine hope
Hong Kong: Most Asian markets rose Tuesday as hopes the world could begin to return to normal were boosted by news that another vaccine candidate appeared to be effective against the coronavirus.
However, while airlines led the gains, a broad rally across equities was tempered by investors moving out of tech firms and others that have benefited during the pandemic.
Surging infections across the US and Europe and concerns that Washington lawmakers are unlikely to pass any big stimulus package before the end of the year were also causing nervousness.
The mood among dealers has been upbeat this month after Joe Biden's US election win paved the way for a little more certainty on the world stage and pharma giants Pfizer and BioNTech announced their virus vaccine had been 90 percent effective.
The news fanned hopes the global economy could soon begin to get back on track.
On Monday that outlook was given another boost when Moderna said early results showed its candidate was 94.5 percent effective.
All three main indexes on Wall Street rallied, with the Dow and S&P 500 hitting new record highs. - AFP