Home » Markets » Asian markets higher Tuesday as regional airline, tourism and travel stocks lead the way
Asian markets higher Tuesday as regional airline, tourism and travel stocks lead the way
Fox Business Flash top headlines for November 9
Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com.
HONG KONG/BOSTON - Asian share markets mostly shot higher on Tuesday driven by regional airline, tourism and travel stocks as global investors applauded progress in the development of a coronavirus vaccine which lifted confidence in a world economic recovery.
Continue Reading Below
Pfizer Inc PFE.N said its COVID-19 vaccine, developed with German partner BioNTech SE BNTX.O, was more than 90% effective in preventing infection, marking the first successful results from a large-scale clinical trial.
“Markets will remain on the lookout for more promising vaccine data in addition to news of a fiscal reboot,” PineBridge Investments portfolio manager Mary Nicola told Reuters.
ESTEE LAUDER TOPS ESTIMATES ON CHINA DEMAND, ONLINE BOOST
The vaccine news sparked renewed optimism in equities around the world but oil prices slipped in Asian trade after posting the biggest one-day percentage gain in five months.
However, some analysts sounded caution over the speed in which the vaccine could be implemented.