Asia stocks rise, spurred by hopes for Covid-19 treatment
Asian shares were mostly higher as investors hung onto hopes the coronavirus pandemic may come under control as treatments get developed.
“The positive coverage on potential Covid-19 vaccines and treatments opens the door wide open to a rotating carousel of stocks,” said Stephen Innes, chief global markets strategist at AxiCorp.
If symptoms of the infection could become as mild as a cough or runny nose during a flu, the economy could return to normal, he added.
Japan’s benchmark Nikkei 225 index rose 1.7 per cent to 23,378.47. South Korea’s Kospi gained 1.5pc to 2,364.25. Australia’s S&P/ASX 200 added 0.5pc to 6,159.60. Hong Kong’s Hang Seng edged down 0.2pc to 25,498.77, while the Shanghai Composite was up 0.2pc at 3,392.49.
