Asian shares jumped on Tuesday and oil extended gains on optimism the global economy would recover quickly while the euro hovered near a two-week top.
Following a successful early-stage trial of a COVID-19 vaccine.
MSCI’s broadest index of Asia Pacific shares outside of Japan rose 1.5 per cent to two-week highs.
Australia’s benchmark index and Hong Kong’s Hang Sang were the lead gainers, up by two per cent each, South Korea added 1.8 per cent while China’s blue-chip index climbed 0.8 per cent.
Japan’s Nikkei added two per cent to the highest since early March.
The gains followed a rally on Wall Street overnight after data from Moderna Inc’s COVID-19 vaccine, the first to be tested in the U.S., showed it produced protective antibodies in a small group of healthy volunteers.
The positive early test results boosted sentiment as investors wagered on a faster-than-expected economic recovery.
Analysts, for now, expect a steep contraction in world growth with the outlook…
Source: News Agency of Nigeria
