Asian shares advance on vaccine optimism

Asian shares recorded an upbeat session on Monday, with a broad regional index hitting a milestone peak brought by a breakthrough in the development of coronavirus vaccine. However, the reimplementation of virus-related lockdowns and uncertainty over U.S. stimulus restricted gains.

MSCI’s broadest index of Asia-Pacific shares outside Japan had seen a 0.56% increase, surpassing its previous record peak reached on Friday. South Korea’s KOSPI hiked 1.82% backed by an optimistic earnings forecast. Meanwhile, Chinese blue chips earned 0.69% as Hong Kong’s Hang Seng index shed 0.2%.

Australian shares tallied a 0.51% gain. The jump followed after the land down under lifted some of its virus-driven restrictions. While Japan’s financial markets were closed for a holiday, Nikkei futures were seen 0.19% higher.