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Asia-Pacific stocks edge higher as optimism rises on Pfizer vaccine approval - CNBC

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SINGAPORE — Shares in Asia-Pacific rose in Tuesday morning trade, after the tech-heavy Nasdaq Composite rose to a record closing high following the U.S. Food and Drug Administration's full approval of Pfizer and BioNTech's Covid-19 vaccine.

The Nikkei 225 in Japan gained 0.86%, as shares of conglomerate Softbank Group surged more than 2%. The Topix index advanced 0.9%. South Korea's Kospi jumped 1.15%.

In Australia, the S&P/ASX 200 edged 0.29% higher.

MSCI's broadest index of Asia-Pacific shares outside Japan traded 0.33% higher.

Investors will watch shares of dual-listed Chinese firms such as Alibaba and JD.com. Reuters reported that the U.S. Securities and Exchange Commission has began issuing new disclosure requirements to Chinese firms looking to list in New York, as part of a push to raise investor awareness of the risks involved.

Overnight on Wall Street, the Nasdaq Composite jumped 1.55% to 14,942.65 — a record closing high. The S&P 500 advanced 0.85% to 4,479.53 while the Dow Jones Industrial Average gained 215.63 points to 35,335.71.

Those gains stateside came as Pfizer and BioNTech's Covid-19 vaccine became the first in the U.S. on Monday to be granted full approval by the Food and Drug Administration, clearing the path for more vaccine mandates.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.995 following a recent slip from above 93.2.

The Japanese yen traded at 109.65 per dollar, stronger than levels above 110 seen against the greenback yesterday. The Australian dollar changed hands at $0.721, still off levels above $0.729 seen last week.

Oil prices dipped in the morning of Asia trading hours, with international benchmark Brent crude futures fractionally lower at $68.71 per barrel. U.S. crude futures shed about 0.1% to $65.59 per barrel.

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Asia-Pacific stocks edge higher as optimism rises on Pfizer vaccine approval - CNBC
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