“Asia stock markets soar as investors ride the wave of optimism, fueled by positive economic data and promising vaccine developments.”
Asia-Pacific markets were mixed as investors analyzed Australia’s third-quarter inflation figures, which will provide insights into the Reserve Bank of Australia’s monetary policy decision on November 3. The country’s third-quarter inflation rate came in slightly higher than expected at 5.4%, but lower than the previous quarter’s 6%. Following the announcement, Australia’s S&P/ASX 200 fell 0.19%, reversing gains from the previous day. On the other hand, Japan’s Nikkei 225 rose 0.77% and the Topix climbed 0.79%. South Korea’s Kospi opened just below the flatline, while the Kosdaq slipped 0.21%. Futures for Hong Kong’s Hang Seng index pointed to a rebound after reaching its lowest level since November 10. In the U.S., all three major indexes experienced gains as investors focused on earnings reports and monitored Treasury yields. The Dow Jones Industrial Average snapped a four-day losing streak, rising 0.62%. The S&P 500 added 0.73%, and the Nasdaq Composite climbed 0.93%.