European shares gain and Asian stocks advance

Gulf Today Report

European shares increase on Wednesday as markets remain hopeful for a Brexit trade deal and availability of COVID-19 in the continent before the year runs out. 

The pan-European STOXX 600 index jumped by 0.5%.  

Investors are expecting little change in business activity over the previous months. 

Additionally, investors are waiting for the result of the US Federal Reserve’s meeting, the outcome is due tonight at 19:00 GMT. 

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Asian stocks 

Asian stocks advanced on Wednesday as hope for more US stimulus heightens.

Japan's Nikkei 225 index gained 0.3% to 26,757.40 despite the release of data showing exports fell 4% in November, while imports dropped 11% from a year earlier. 

Hong Kong's Hang Seng surged 0.8% to 26,412.50 and the Kospi in South Korea rose 0.5% to 2,771.20.

Australia's S&P/ASX 200 advanced 0.7% to 6,679.20 and the Shanghai Composite index edged 0.1% higher, to 3,370.44. 

Although the China market is growing rapidly and it is Japan’s biggest market, Japan still recorded weak export data. 

However, markets are hopeful for a vaccine-led economic revival.