Asian Shares Bounce on Hopes for U.S. Stimulus, Vaccine

Asian shares rose on Wednesday after a strong lead from Wall Street fuelled by hopes for additional U.S. economic stimulus and a coronavirus vaccine, but trade was choppy as some investors booked profits.

Top U.S. Senate Republican Mitch McConnell said on Tuesday that Congress should include new coronavirus stimulus in a 1.4 trillion spending bill aimed at heading off a government shutdown in the midst of the pandemic.

U.S. Presidentelect Joe Biden told the New York Times his priority is getting a generous aid package through Congress even before he takes office in January.

Top U.S. health officials, meanwhile, announced plans to begin vaccinating Americans against the coronavirus as early as midDecember once regulatory approvals are in place, as nationwide deaths hit the highest number for a single day in six months.

MSCIs broadest index of AsiaPacific shares outside Japan rose 0.27, but was still trading below last weeks alltime high. Australian stocks rose 0.12.

Shares in China recovered from early losses and rose 0.12.

Tokyo stocks were little changed after setting a new 29year high. Softbank Group shares fell 0.66 after Bloomberg News said the tech investor is winding down its options trades on companies including Inc and Facebook Inc.

South Korean shares hit a record high due to signs of an increase in semiconductor demand.

U.S. stock futures declined 0.23 following a record closing high for Wall Street shares.

Europe also looked set for a softer…

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