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Asian stocks rise Tuesday on possibility of coronavirus vaccine making world healthy
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BEIJING — Asian stock markets rose for second day Tuesday on hopes for progress toward a possible coronavirus vaccine that might allow the world to revive manufacturing, shopping and normal life.
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Benchmarks in Shanghai, Tokyo, Hong Kong and Sydney rose while Seoul fell less than 0.1%.
On Wall Street, the benchmark S&P 500 index closed 1.2% higher on Monday after Pfizer Inc. said early data on a vaccine under development suggest it might be it might be 90% effective at preventing COVID-19, though that doesn’t mean its release is imminent.GUN STOCKS FALL AFTER VACCINE NEWS, LACK OF ELECTION-RELATED CIVIL UNREST: REPORT
“This offers a ray of hope that the market did not hesitate to take advantage of,” said Tai Hui of J.P. Morgan Asset Management in a report. Early Tuesday, hours before the opening bell, the Dow was up 149 points at 29,157 (+0.51%), while the Nasdaq was at 11,841.50 (+0.18%), up 21 points and the S&P was slightly higher at 3,547 (+0.08%), or up 3 points.