BREAKING - Asia Stocks Edge Higher After Vaccine Hopes Push Wall Street to Record Highs

NEW YORK (Reuters) - Asian stocks cautiously pushed further into record territory on Tuesday, and oil edged higher after U.S. benchmarks were pepped up by news of another promising coronavirus vaccine.

Investor sentiment was given a boost when Moderna (NASDAQ:MRNA) Inc said its experimental COVID-19 vaccine was 94.5% effective in preventing infection based on interim late-state data.

The Cambridge, Massachusetts-based firm became the second drugmaker, after Pfizer Inc (NYSE:PFE), to announce promising trial data in the development of a vaccine to defeat the pandemic. Its shares gained 9.6% on the day.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.11% on Tuesday morning, a day after hitting its highest level since launching in 1987.

The MSCI World Index of global shares which also hit a record high on Monday, ticked higher still in Asia's morning trading.

Hong Kong benchmark rose 0.1% and Australia's S&P/ASX 200 rose 0.23%, after Monday's trading had been severely curtailed by a software glitch

Japan's Nikkei 225 fell 0.2% after hitting a 29 year high the day before.

For more information please refer to the original article: https://www.investing.com/news...