Stocks hover near record high, oil skids on demand outlook
Asian shares stalled near record highs on Friday as investors weighed renewed doubts about a highly-anticipated coronavirus vaccine against hopes that some of the region’s economies will recovery quicker than their Western peers.
MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.04% but remained with striking distance of a life-time peak touched this week.
Australian shares ended down 0.53%. Treasury Wine Estates Ltd tumbled by 11.25% after China slapped tariffs on Australian wine, which is likely to worsen a diplomatic row between Beijing and Canberra.
Japan’s Nikkei rose 0.33% in choppy trade.
Shares in China rose 0.13% after data showed Chinese industrial profits surged at the fastest pace since early 2017. South Korean stocks also rose 0.27%.
