AsiaPacific Shares Mostly up after Dow Surges to New Record

Stocks in AsiaPacific mostly rose in Wednesday trade following a record session on Wall Street as coronavirus vaccine hopes and reduced uncertainty in U.S. politics buoy investor sentiment. In Japan, the Nikkei 225 rose 1.23 while the Topix index gained 0.84. The Hang Seng index in Hong Kong also advanced 0.85. South Koreas Kospi advanced 0.35. Over in Australia, the SPASX 200 rose 0.82.

Mainland Chinese stocks lagged The Shanghai composite dipped 0.22 while the Shenzhen component shed 0.768. MSCIs broadest index of AsiaPacific shares outside Japan edged 0.26 higher. Hong Konglisted shares of Chinese smartphone maker Xiaomi fell 3.5. The declines came despite the firm posting a roughly 19 yearoveryear surge in its adjusted net profit for the three months ended Sept. 30.

Strong overnight gains on Wall Street likely lifted investor sentiment in AsiaPacific on Wednesday. The Dow Jones Industrial Average closed above 30,000 for the first time as it gained 454.97 points to 30,046.24. The SP 500 also saw a record close, rising 1.6 to 3,635.41. The Nasdaq Composite added 1.3 to finish its trading day at 12,036.79. Positive momentum in the race for a coronavirus vaccine has boosted global markets. Earlier this week, AstraZeneca announced that interim analysis showed its vaccine has an average efficacy of 70 in protecting against the virus. Uncertainty in U.S. politics has also eased after the Trump administration officially began the transition process to Presidentelect Joe…

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