European, Asian shares edge higher

Gulf Today Report 

European shares gained on Monday as technology stocks rise and investors remain hopeful of economic recovery due to the rollout of vaccine.

The pan-European STOXX 600 index rose 0.4%, adding to previous week's gains of 3.5%, with technology shares rising 1.3%.

Frankfurt shares rose 0.6%. Most European sector indexes were higher moments after the open.

Asian shares 

Asian shares climbed on Monday, Japan’s benchmark reached a three-decade high on hope surrounding global economy. 

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Japan's Nikkei 225 surged 2.1% to 29,388.50. Australia's S&P/ASX 200 rose 0.6% to 6,880.70. South Korea's Kospi shed 0.6% to 3,101.88. Hong Kong's Hang Seng edged up 0.3% to 29,377.40, while the Shanghai Composite picked up 1.1% to 3,534.07.

Analysts forecast economic growth in 2021 after it contracted last year due to the pandemic.

Export-driven Asian nations, such as Japan, South Korea and China, are expected to get a big boost out of the recovery.

Investors have been encouraged by surprisingly good corporate earnings reports, news that a recent surge in new coronavirus cases is easing, and progress in the distribution of vaccines.