HONG KONG: Asian shares held onto their recent gains on Wednesday after last week's pummelling, as global equities rebounded thanks to a combination of positive COVID-19 vaccine news and easing worries over tapering of Federal Reserve stimulus.
Japan's Nikkei were flat. A Reuters poll of analysts and fund managers showed Japanese shares are expected to recover from their eight-month low marked on Friday to near a 30-year high by the end of this year. The Hang Seng TECH Index rose soon after the bell gaining over 3 per cent, building on this week's strong gains as investors piled into oversold stocks, but later gave up those gains to trade flat.
On Friday, the Federal Reserve will have its annual economic symposium, traditionally held at Jackson Hole, though this year it will take place virtually due to the spread of COVID-19 in the county.
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