Asian shares reach milestone peak on brighter stimulus hopes

The possibility of a massive stimulus package in the United States had sent Asian share markets up to their record peaks. Meanwhile, optimism that a coronavirus vaccine will greatly support the global economy boosted investors’ confidence.

MSCI’s broadest index of Asia-Pacific shares outside Japan had seen a 0.6% increase, placing above its historic jump last Nov. 25. Currently, it stood at a 2-1/2 year high as it gained a total of 10% since March. Meanwhile, Japan’s benchmark index Nikkei recorded a 0.4% drop as investors withdrew from shares.

On Wall Street, the S&P 500 plunged 0.06% on Thursday. The index had shed its early gains after the Wall Street Journal reported Pfizer’s plan of reducing the target rollout of its coronavirus vaccine due to hindrances brought by supply chain.