Asian stocks rise following Wall Street rally and positive vaccine news

Asian stocks rose Wednesday after the Dow Jones Industrial Average closed above 30,000 points for the first time despite an ongoing pandemic, as progress in development of coronavirus vaccines kept investors in a buying mood.

Asian stocks

  • Hong Kong’s Hang Seng Index (HSI) rose 1.3%,
  • China’s Shanghai Composite (SHCOMP) was up 0.1%.
  • South Korea’s Kospi (KOSPI) rose 0.7%.
  • Japan’s Nikkei (N225) led the region’s gains, rising around 2% to its highest level since early 1991.
  • Shares in the country’s flagship carrier ANA jumped nearly 3%, after Japan and China announced on Tuesday that they had agreed to resume business travel by end of month.

Oil Prices

  • In energy trading, benchmark U.S. crude gained 67 cents to $45.58 a barrel.
  • Brent crude, the international standard, rose 76 cents to $48.62 a barrel.

Currency

  • In currency trading, the U.S. dollar inched up to 104.56 Japanese ye from 104.30 yen.
  • The euro cost $1.1901, up from $1.1878.