SYDNEY- Asian share markets resumed their ascent on Monday as investors pinned their hope on vaccines to eventually deliver a global economic upturn, even as a possible tightening in virus rules for Tokyo pulled Japanese stocks off 30-year highs.
After a slow start, MSCI’s broadest index of Asia-Pacific shares outside Japan swung 0.8 percent higher to hit another all-time peak.
South Korea climbed 2 percent to a record, led by the chip and auto sectors, while Chinese blue chips .CSI300 added 0.3 percent.
E-Mini futures for the S&P 500 were steady after also touching a record high. EUROSTOXX 50 futures were flat, while FTSE futures rose 0.4 percent.
Investors are still counting on central banks to keep money cheap while coronavirus vaccines help revive the global economy over time, though much of that optimism is already priced in and the virus still spreading.
Japan’s Nikkei shed early gains to fall 0.4 percent after Prime Minister Yoshihide Suga confirmed the government was considering a state of emergency for Tokyo and three surrounding prefectures.
Investors are cautiously watching runoff elections in Georgia for two US Senate seats on Tuesday that will determine which party controls the Senate.
If the Republicans win one or both, they will retain a slim majority in the chamber and can block President-elect Joe Biden’s legislative goals and judicial nominees.