Asian shares hike as U.S. stimulus, vaccine support sentiment
Asian share markets recorded an upbeat performance on Wednesday. Despite a choppy trading session, shares across the region tracked Wall Street’s rally as vaccine optimism and hopes for more economic stimulus in the United States supported investors’ confidence.
MSCI’s broadest index of Asia-Pacific shares outside Japan had seen a 0.27% increase. However, it failed to trade beyond its all-time peak reached last week. Australian shares advanced 0.12%, while Chinese shares salvaged initial losses as they jumped 0.12%.
Japan’s shares made minimal changes after hitting a new 29-year peak. Moreover, an increase in semiconductor demand had sent South Korean shares up with a new record high. U.S. futures, on the other hand, had plunged 0.23% after Wall Street recorded a historic peak.