Asian Stocks Rise, Rising COVID-19 Vaccine Launch in US Raises Recovery Hopes By

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By Gina Lee – Asia Pacific stocks were mostly higher Wednesday morning, with US stocks posting modest gains during the previous session on heightened hopes for an end to the COVID-19 pandemic and recovery economical. Yields on 10-year US Treasuries also posted their highest levels since March above expectations for massive stimulus packages from President-elect Joe Biden. However, these levels were adjusted to almost the same level one day after a Treasury auction was well auctioned. The incoming Biden administration, who will take office on January 20, is expected to increase the distribution of COVID-19 vaccines in the country, which would allow much of the economy to reopen, said Peter Essele, head of portfolio management at Commonwealth Financial Network. he told Reuters. “The amount of pent-up demand is slowly unraveling and over the next year will likely result in one of the biggest growths in 20 years and markets are seeing that at … right now, it’s a race between cases and the vaccine and the vaccine will finally come out ahead and the curve will flatten ”, he added. While progress in vaccine launch continued to raise hopes for an economic recovery, concerns persist over speculative glut and foam that has pushed stocks to all-time highs even as COVID-19 persists. Federal Reserve Bank of St. Louis Chairman James Bullard and Boston Fed Chairman Eric Rosengren rejected speculation that the Fed will begin easing its asset purchase program in the near term in comments separated. “What I think investors are most focused on is taking in what fiscal policy is changing … we’re starting to lose anchor on some key long-term benchmark interest rates,” the chief investment officer told Bloomberg of DWS Group for the Americas, David Bianco. . Fed Chairman Jerome Powell will participate in a webinar on Thursday. Meanwhile, the president of the European Central Bank, Christine Lagarde, will speak at an online conference later that day. Japan’s rose 0.83% at 10:38 pm ET (3:38 am GMT). The state of emergency declared for the Greater Tokyo area during the previous week is expected to extend to seven additional prefectures, including Osaka, Kyoto, Hyogo, Fukuoka, Aichi, Gifu and Tochigi. South Korea gained 0.59%. In Australia, it rose 0.04% and Hong Kong 0.07%. China was down 0.08%, while it was up 0.27%. Elsewhere in the US, the House of Representatives is moving a vote to impeach the incumbent President Donald Trump. Facing his second impeachment trial, Trump has denied responsibility for the violence perpetrated on Capitol Hill over the past week, and his Vice President Mike Pence said in Tuesday’s letter to House Speaker Nancy Pelosi that he opposes invoke Amendment 25 to impeach Trump. from the office. On the data front, the US will post December later in the day. December data, and is scheduled to follow on Friday.

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