Asian markets look to rise on vaccine, stimulus hopes

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Asian markets were set to rise Wednesday as investors tracked positive news on COVID-19 vaccines and ongoing efforts to launch more fiscal stimulus.

FILE PHOTO: A man wearing a protective face mask walks past a stock quotation board outside a brokerage, amid the coronavirus disease outbreak, in Tokyo, Japan November 2, 2020. REUTERS/Issei KatoAustralian S&P/ASX 200 futures were up 0.57per cent in early trading, while Japan's Nikkei 225 were down 0.02per cent.

The Dow Jones Industrial Average rose 0.35per cent, the S&P 500 gained 0.28per cent and the Nasdaq Composite added 0.5per cent.Advertisement"USD consolidated amid a lift in U.S. equities to record highs and positive signs that an agreement on an one‑week stopgap funding bill that would push off a partial government shutdown," wrote Joseph Capurso, a strategist with Commonwealth Bank of Australia.U.S.

But the looming prospect of a"no deal" Brexit weighed on investors, as British and European Union negotiators are still trying to break a deadlock in trade deal talks within three weeks.The benchmark 10-year yield was down 1.3 basis points in afternoon trading at 0.9146per cent. Oil prices were near unchanged, with Brent crude futures settling at US$48.84 a barrel, up 5 cents. U.S. West Texas Intermediate crude futures settled 16 cents lower at US$45.60. Spot gold prices were higher.

 

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