Nikkei surges as Biden transition given go-ahead

EPA-EFE/KIMIMASA MAYAMA

Stocks in Asia-Pacific traded mostly higher on Tuesday after United States President-elect Joe Biden received the green light from the General Services Administration (GSA) to formally begin the transition process. Investors also digested more COVID-19 vaccine hopes after AstraZeneca reported 70% efficacy of its candidate.

The Nikkei 225 soared 2.62% at 3:30 am CET to hit the highest level since 1991. The dollar was flat against the yen to sell for 104.5440 at 3:49 am CET.

South Korea's Kospi climbed 0.75% at 3:48 am CET and Australia's rallied 1.11% at the same time.

Hong Kong's Hang Seng added 0.12% at 3:45 am CET. In mainland China, the Shanghai Composite declined 0.20% at 3:45 am CET and the Shenzhen Composite lost 0.32% at 3:32 am CET.

Breaking the News / NP