Asian shares reach historic peak on vaccine optimism

16.11.2020 - Davydova Maria
Asian shares reach historic peak on vaccine optimism

Asian share markets reached historic highs on Monday. The series of increase could be attributed to vaccine hopes and upbeat economic figures from China and Japan, completely supporting investors’ confidence despite surging coronavirus infections.

MSCI’s broadest index of Asia-Pacific shares outside Japan tallied a 1% gain, hitting its sharpest increase since its debut in 1987. In addition to this, other Asian markets had also made milestone peaks.

Japan’s benchmark index Nikkei secured its 29-year high, while South Korea’s Kospi reached its strongest level since 2018. Just before a system glitch occurred, Australia’s ASX 200 had seen an eight-month peak during its morning session.

On Wall Street, futures for the S&P 500 advanced 0.6%, while Nasdaq futures jumped 1%. European futures were also seen upbeat as EuroSTOXX 50 futures gained 0.8%. Moreover, FTSE futures increased half a percent.

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