Global shares reach high grounds on vaccine-driven hopes

Global share markets recorded a series of record peaks on Friday, with Asian shares tracking Wall Street’s hefty gains. This followed after investors grew enthusiastic over vaccine distribution, bringing in hopes for a rapid recovery of earnings and the global economy.

MSCI’s broadest index of Asia-Pacific shares outside Japan tallied a 0.4% gain, while Japan’s benchmark Nikkei advanced 1%. The MSCI ACWI index, which gauges the world’s major markets, rallied for five consecutive days to place near a record high seen two weeks ago.

Wall Street had also seen an upbeat session as its three major indexes all jumped more than 1% on Thursday. The tech-heavy Nasdaq, together with the S&P 500, hit record highs.

Investors’ upbeat mood could be attributed to U.S. President Joe Biden’s proposed stimulus plan. More so, The United States’ job markets rendered better-than-expected figures, greatly supporting the upcoming payroll report due within the day.