BEIJING – Asian stock markets rose Monday on 2021’s first trading day, boosted by optimism about the rollout of coronavirus vaccines after Wall Street ended the year on a new high.
Market benchmarks in Shanghai, Hong Kong, Seoul and Sydney advanced. Tokyo declined.Optimism about vaccines has countered concern about rising infection numbers in the United States and some other countries and conflict over economic aid in Washington, said Stephen Innes of Axi in a report.
Traders are “perhaps a bit over-eager” but believe vaccines will “provide the ultimate economic kick-start, offering a massive booster shot to corporate profits,” said Innes.