Asian shares extend gains as investors count on stimulus, vaccines
TOKYO/NEW YORK – Asian shares advanced on Tuesday as prospects of a deal by European Union leaders to jointly fund recovery of their economies and hopes for a coronavirus vaccine lifted risk appetite.
“The U.S. will likely adopt stimulus by the first week of August. We don’t know its exact size but I bet it will be something like $1 to $1.5 trillion.” Hopes that vaccines against the COVID-19 disease might be ready by the end of year also supported risk assets, following promising early data from trials of three potential vaccines.
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