SYDNEY (Reuters) – Asia’s stock market opened higher on Monday, as vaccine optimism eased concerns about rising coronavirus cases in Europe and new lockdowns in the United States, while oil prices and risk-exposed currencies also Are higher.
Nikkei of japan .N225 1% more opened at the 29-year peak. Australia’s ASX 200 .AXJO The eight-month high of Asia-Pacific shares outside Japan and the MSCI comprehensive index rose 1% .MIAPJ0000PUS Is at its highest level since January 2018.
S&P 500 Futures ESc1 The index rose 0.7% after a record closing on Friday and indicated a positive start to the week in Hong Kong. Hsic1.
The US dollar, meanwhile, was marginally lower against the Antipodean currencies. Oil prices go higher, though it is not enough to miss the late-week losses on concerns about further winter.
Drug maker Modern is expected to have more vaccines soon this week MRNA.O, After successful testing of Pfizer PFE.N Similar medicine – and this is enough to assimilate the near-term concerns about the economic loss of the virus.
Kyle Rodda said, “There are just mountains of cash waiting to work and ever since we got this vaccine news, as well as reduced risk in the US elections, it’s all flying into equity.” , “Analyst in IG market. “Everyone is thinking now that this is the cue to go in.”
President Donald Trump appeared on Sunday admitting to losing the US election, but then backed down and said he believes nothing, while President-Elect Joe Biden focused on tackling the coronovirus epidemic.
In North Asia, Japan’s quarterly economic growth beat expectations, while China’s factory production and retail trade data are due in later days.
Fifteen Asia-Pacific economies, including China and Japan, but agreed to a trade agreement over the weekend, excluding the United States, which highlights expansion or immediate tariff cuts, are a landmark agreement for East Asian exporters.
“()) The agreement … is an indication that Asia continues to move forward with trade liberalization, even in other areas that have become more suspect,” HSBC economists Frederick Newman and Shanella Rajanayagam in a note Have said
“In this way, it can curb a trend that has already been in place for decades: the global center of economic gravity continues to move eastward.”
BREXIT CRUNCH LOOMS, AGAIN
In the currency markets, the major was mostly flat except for sterling, which made a start to a week that looms large for Brexit trade talks, slipping a tuck against the euro EURGBP = More dollars GBP = For the final hold at $ 1.3180
Hardline consultant Dominic Cummings’ departure from Downing Street last week could leave more room for a British settlement, but chief negotiator David Frost said on Twitter that the talks “could not succeed”.
The talks already miss several deadlines and looms with the EU summit next Thursday.
The euro Euro = Early Asia trade and the yen reached a week high of $ 1.1845 JPY = Sat at 104.66 per dollar.
Risk-sensitive Australian Dollar AUD = D3 Purchased $ 0.7284 and held steady after a week of central bank speeches and key figures, started by Reserve Bank of Australia Governor Philip Lowe at 0840 GMT.
This week, the US Federal Reserve speakers also have a sleepover, which began in 1900 GMT with Vice Chairman Richard Clarida.
Bonds, which sold the vaccine news vigorously last week, overcame some losses in New York on Friday, leaving a yield on the benchmark US Yield 10-year debt US10YT = RR 0.8930% from one week up from 0.89%.
Brent crude futures increase oil prices LCOc1 0.4% to $ 42.94 per barrel but down from last week’s two-month high of $ 45.30. US crude CLc1 Rose 0.6% to $ 40.37 per barrel.
Gold XAU = Steady at $ 1,890 per ounce.
Reporting by Tom Westbrook in Sydney; Editing by Sam Holmes