SYDNEY - Asian shares jumped on Wednesday as optimism about a coronavirus vaccine bolstered risk appetite while the euro rose to a four-month top on the prospect of stimulus ahead of a crucial EU summit.
In Hong Kong, big gains on fresh hopes for a virus vaccine offset news that US President Donald Trump had removed the city's special trade privileges as expected.The benchmark Shanghai Composite Index slumped 0.9 per cent, after earlier small gaains,E-mini futures for the S&P 500 rose 0.8 per cent. "... the vaccine is more than a show stopper. It's the ultimate recession stopper," said Stephen Innes, markets strategist at AxiCorp.
"So, the positive news on the vaccine can go a long way to explain the dissonance between the shift in the stock market sentiment relative to the angst on Main Street."
Source: Financial Digest (financialdigest.net)
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