Asian stock advance, European shares rally as coronavirus vaccination campaign kicks off
- 04 Jan 2021
Gulf Today Report
Asian stock gained on Monday, 2021’s first trading day, as investors remain optimistic about the coronavirus vaccine.
Shanghai, Hong Kong, Seoul and Sydney advanced. Tokyo declined.
The Shanghai Composite Index gained 0.8% to 3,499.02 and the Hang Seng in Hong Kong rose 0.5% to 27,366.10.
The Nikkei 225 in Tokyo declined by 0.7% to 27,243.14.
The Kospi in Seoul rose 2.4% to 2,943.11 and Sydney’s S&P-ASX 200 added 1.5% to 6,684.20.
India's Sensex opened up less than 0.1% at 47,923.24. Singapore and Jakarta also advanced while Bangkok declined.
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Confidence about the coronavirus vaccine has overshadowed the surge in coronavirus cases in different parts of the world and conflict over economic aid in Washington, said Stephen Innes of Axi.
European Shares
European shares rallied on Monday as Brexit trade deal and coronavirus vaccination across Europe boots optimism for economic recovery.
The pan-regional STOXX 600 index gained 1.1%, with mining, travel and leisure stocks leading with more than 3% gain.
Germany's DAX was up 0.6% after a long weekend to trade below all-time highs, while France's CAC 40 added 1.2%.
"Vaccines, throughout the last half of 2020, have consistently been the biggest mover in terms of sentiment. So the fact that vaccines are now being rolled out only enhances that sense of new year optimism," said Connor Campbell,
London's blue-chip index recorded 2.2% gain in its first day of trading with Britain outside the European Union's orbit.
