BREAKING: Asian Shares Edge Lower but Stimulus, Vaccine Hopes Provide Support

Photo: Reuters

TOKYO/NEW YORK (Reuters) - Asian shares shed early gains from a strong Wall Street lead on Wednesday, as some investors booked profits on a stellar run to record highs, but hope for additional U.S. economic stimulus and a coronavirus vaccine kept market sentiment well supported.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.06%, pulling back from last week's all-time high. Australian stocks erased early gains and fell 0.38%.

Shares in China fell 0.22%. Tokyo stocks fell 0.17% after setting a new 29-year high. South Korean shares bucked the trend and rose 1.11% due to signs of an increase in semiconductor demand.

U.S. stock futures declined 0.4% following a record closing high for Wall Street shares. Benchmark U.S. Treasury yields eased slightly but remained near a three-week high as Republicans and Democrats submitted proposals for economic stimulus in a bid to pass a bill some time this month.

Pfizer Inc and Germany's BioNTech SE sought emergency approval of their vaccine candidate from the European regulator on Tuesday. Competitor Moderna Inc also applied for emergency approval from the European regulator on Tuesday.

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