Asian shares jump, Brexit deadline weighs on markets
Asian share markets recovered on Friday as breakthroughs in the development of coronavirus vaccines bolstered investors’ confidence. However, Brexit negotiations and stimulus talks in the United States restricted gains in riskier assets.
MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.5% jump, approaching its sixth consecutive week of earnings as Japan’s benchmark index Nikkei plunged 0.6%.
Wall Street had seen a mixed session as the Dow Jones Industrial Average declined 0.23%, and the S&P 500 dropped 0.13%. Meanwhile, the tech-heavy Nasdaq increased 0.54%.
Investors foresee an upbeat economic year in 2021 brought by encouraging news about coronavirus vaccines. U.S. authorities had endorsed the use of Pfizer’s drug for emergency use, while China’s Sinovac Biotech is currently releasing its doses for a Brazilian production line.