Asian stocks gain as vaccine hopes push Wall Street to record highs

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Asia stocks slowly rose into record territory on Tuesday, while oil gained after U.S. benchmarks were boosted by news of another promising COVID-19 vaccine.

MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.11% in early trade, following last session’s strongest level since it was launched in 1987.

The MSCI World Index of global shares also rose in Asia after hitting a record high on Monday. Hong Kong benchmark was up 0.1%, while Australia’s S&P/ASX 200 climbed 0.23%.

Japan’s Nikkei 225 slid 0.2% after reaching a 29-year high in the previous day.

The upbeat sentiment in Asia stocks also helped oil prices hold onto Monday’s gains. U.S. oil stood at $41.36 per barrel, while Brent rose 0.3% on Tuesday.

Meanwhile, U.S. Treasury yields climbed on news of vaccine developments. The 10-year U.S. yield notes was at 0.9012% from Friday’s 0.893%.

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