BREAKING: Asian Shares Advance on Vaccine and Recovery Hopes

Photo: Reuters

TOKYO (Reuters) - Asian shares advanced on Thursday as markets' euphoric mood over COVID-19 vaccines and the prospects of more political predictability and economic stimulus under the incoming Biden administration overrode a slate of weak U.S. economic data.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3% while Japan's Nikkei gained 0.6%.

U.S. S&P 500 future rose 0.2% in Thursday's Asian trade while Nasdaq futures rallied 0.4%.

MSCI's broadest gauge of the world's shares covering 49 markets added 0.1% to bring its gains so far this month to 12.7%, on course to make its biggest monthly gain on record.

The rally started after Democrat Joe Biden's U.S. election victory earlier this month raised hopes for more government spending to support the pandemic-hit economy and for more policy predictability after four years of Donald Trump's presidency.

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