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Asian Stocks Rise For 2nd Day On Coronavirus Vaccine Hopes

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People walk by an electronic stock board of a securities firm in Tokyo, Tuesday, Nov. 10, 2020. 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. (AP Photo/Koji Sasahara)

(AP) — Asian stock markets have risen for a second day on hopes for progress toward a possible coronavirus vaccine that might allow the world to revive manufacturing, shopping and normal life. Benchmarks in Tokyo, Hong Kong and Sydney rose by more than 1% while Shanghai and Seoul also gained. On Wall Street, the benchmark S&P 500 index closed 1.2% higher after Pfizer said data on a vaccine under development suggest it might be 90% effective at preventing COVID-19, though that doesn’t mean its release is imminent. China’s inflation fell to a decade low, giving Beijing room to spend more heavily if necessary to support its economic recovery.

 

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