Asian markets up thanks to vaccine hopes, signs of improving global economy

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Asian stock markets followed Wall Street higher on Thursday as hopes for a coronavirus vaccine rivaled worries over rising infections in the United States.
The Shanghai Composite Index
SHCOMP,
+ 2.08%

increased by 0.7% and the Nikkei 225
NIK,
+ 0.11%

in Tokyo added 0.6%. The Hang Seng
HSI,
+ 2.15%

in Hong Kong, reopening after a vacation, gained 1.5%. In South Korea, the Kospi
180721,
+ 1.36%

up 0.8% while the Australian S & P / ASX 200
XJO,
+ 1.65%

added 1.1%. New Zealand
NZ50GR,
+ 1.34%

, Singapore
STI,
+ 0.41%

and Jakarta
JAKIDX,
+ 0.66%

has also increased.

Investors encouraged after Pfizer
PFE,
+ 3.18% and BioNtech
BNTX,
-3.89%

announced preliminary data from a vaccine test, one of a series by global developers.
At the same time, the populous states of California and Texas have reported daily records of new cases.

“Vaccine hopes, although welcome, do not guarantee a V-shaped recovery,” said Mizuho Bank in a report.
On Wall Street, the S&P 500 benchmark
SPX,
+ 0.50%

Increased 0.5% Wednesday to 3,115.86, boosted by gains from tech companies.
Dow Jones industrial average
DJIA,
-0.30%

lost 0.3% to 25,734.97. The Nasdaq composite
COMP,
+ 0.95%

, which weighs heavily on tech companies, climbed 1% to a record 10,154.63.
Stock markets around the world rebounded in the last quarter on hopes that economies will pull out of their deepest crisis since the 1930s. Analysts warn, however, that prices could rise too far and too quickly to be supported by the economic activity as infections increase in the United States, Brazil and some other countries.
In the United States, a report on the manufacturing sector showed that activity returned to growth in June, a much better reading than economists expected.
Earlier, a separate report suggested that private employers had hired more workers than they had reduced in June.
“It’s still a guessing game as to how the persistent impact of COVID-19 will continue,” IG Jingyi Pan said in a report.
In China, two surveys this week showed improved manufacturing in June, adding to signs of a gradual recovery.
A similar survey for the euro area of ​​19 countries showed that manufacturing increased again almost after widespread closings.
Analysts have said that while the data points in the right direction, it shows that an economic recovery from the pandemic will be slow.
On the energy markets, benchmark for American crude
CLQ20,
+ 0.65%

lost 1 cent to $ 39.81 a barrel in ecommerce on the New York Mercantile Exchange. The contract rose 55 cents to $ 39.82 on Wednesday. Brent crude
BRNU20,
+ 0.69%

, the international price standard, gained 2 cents to $ 42.05 a barrel in London. The contract rose 76 cents the previous session to $ 42.03 a barrel.
The dollar
USDJPY,
+ 0.03%

won 107.53 yen against 107.49 yen on Wednesday.

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