CORRECTED-GLOBAL MARKETS-Asian shares open higher following stellar month of gains | Reuters

SYDNEY/NEW YORK, Dec 1 (Reuters) – Asian share markets opened slightly higher on Tuesday buoyed by the prospect of a COVID-19 vaccine, reversing the previous day’s dips as investors took profits at the end of a record-breaking month.

MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.26% on Tuesday after closing the month 9% higher, the best November since 2001. Japan’s Nikkei and Australia’s S&P/ASX 200 were each 0.9% higher, while South Korea was up 1.4%.

China’s blue-chip CSI300 index was 0.72% higher on Tuesday, after data on Monday that pointed to a continued recovery in the world’s second-largest economy against the backdrop of the COVID-19 pandemic.

“We’ve seen clearly a huge wave of liquidity coming to equities in response to the vaccine news and in response to U.S. election news,” said Hamish Tadgell, a portfolio manager at SG Hiscock & Company.

“But there are still risks, and as a result we could see the market pull back, I think, particularly as we come into sort of the Christmas period.”

Source: CORRECTED-GLOBAL MARKETS-Asian shares open higher following stellar month of gains | Reuters

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