The benchmark is below the record high of 727.31 touched last week but up 8.5 percent so far in January, on track for its fourth straight monthly rise.Australian shares were higher after the country’s drug regulator approved the Pfizer/BioNTech COVID-19 vaccine with authorities saying a phased rollout will begin late next month.
Hong Kong locked down an area of the Kowloon peninsula on Saturday, the first such measure the city has taken since the pandemic began while some countries including Mexico recorded their highest daily case numbers. Pfizer, last week, said it was temporarily slowing supplies to Europe to make manufacturing changes that would boost output. On Friday, AstraZeneca said that initial deliveries to the region will fall short because of a production glitch.
“That means either an economic downturn or a material tightening in Fed policy,” Wood said, adding neither was likely to occur in a hurry.
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