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From Hong Kong Hang Seng Index (HSI) that of China increased by 1.3% Shanghai Composite (SHCOMP) increased by 0.1% and that of South Korea Kospi (KOSPI) increased by 0.7%.
Japan Nikkei (N225) led the region’s gains, rising about 2% to the highest level since early 1991. Shares of flag carrier ANA rose nearly 3% after Japan and China announced Tuesday that they agreed to resume business travel by the end of the month.
US stock futures also rose slightly. Dow (ONE TWO) futures were up 100 points, or 0.4%. S&P (SPX) futures rose by 0.4% e Nasdaq (COMP) futures rose by 0.6%.
The wave of promising coronavirus vaccine developments in recent weeks is driving the surge in global stocks, according to Stephen Innes, Axi’s chief global market strategist.
“Global investors are elated with vaccine news,” Innes wrote in a statement Wednesday.
Investors are also relieved to see a formal transition from US President Donald Trump to President-elect Joe Biden is finally underway, Innes said.
The US General Services Administration is initiating the so-called investigation process, which allows Trump administration officials to coordinate with Biden’s team. Sources confirmed to CNN that former Federal Reserve Chairman Janet Yellen will be Biden’s nomination for Treasury Secretary.
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