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Asian stocks higher after Wall Street rises to new record

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BEIJING – Asian stocks were mostly higher Tuesday after Wall Street rose to a new record. Shanghai, Tokyo, Hong Kong and South Korea all advanced.

Overnight, Wall Street’s benchmark S&P 500 index closed 0.7% higher. Investors were encouraged by company earnings, news that a surge in coronavirus cases is easing, progress in distributing vaccines and the possibility of U.S.

government stimulus. Despite concern prices might be rising too fast, “the momentum behind this reflation trade remains a force to reckon with,” said Jingyi Pan of IG in a report.

The Shanghai Composite Index gained 1.2% to 3,576.06 and the Nikkei 225 in Tokyo gained 0.1% to 29,418.23. The Hang Seng in Hong Kong rose 0.5% to 29,462.08.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
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Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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