Asian market rally stalls but vaccine, stimulus hope lend support

491
Hong Kong

Asian markets slipped Thursday as investors took a breather after a broad three-day rally, though upbeat data, stimulus hopes, and signs of improvement on the virus and vaccine fronts continue to provide strong support.

An upbeat outlook for the global economy continues to push oil prices higher, with top producers sounding a note of optimism for demand this year as lockdowns are eased and activities slowly resume.

Equities around the world have surged this week after last week’s rout, with traders also breathing a sigh of relief that the social media-driven buying frenzy, which hammered major investors, had died down for now. —AFP