In This Article:
* MSCI Asia ex-Japan +0.56%
* Australia eases lockdowns, U.S. vaccines in sight
* Asian stock markets: https://tmsnrt.rs/2zpUAr4
* 2020 asset performance http://tmsnrt.rs/2yaDPgn
* World FX rates in 2020 http://tmsnrt.rs/2egbfVh
By Andrew Galbraith
SHANGHAI, Nov 23 (Reuters) - Asian shares climbed on Monday, with a broad regional index touching a record high on hopes for imminent coronavirus vaccines, but worries over the impact of economic lockdowns and uncertainty over U.S. stimulus capped gains.
A top official of the U.S. government's vaccine development effort said Sunday that the first vaccines could be given to U.S. healthcare workers and others recommended by mid-December.
Despite the grim backdrop of accelerating COVID-19 infections in the United States, the forecast helped to raise hopes that lockdowns that have paralysed the global economy could be nearing an end.
"With the vaccine on its way and the likelihood that economic damage being done by the virus will lift, we'll still have in place substantial support from central banks and governments. And that is an economic sweet spot that should see a significant economic bounce," said Michael McCarthy, chief market strategist at CMC Markets in Sydney.
"It's fascinating that investors are willing to focus on that aspect. It does require some pretty heavy squinting, including looking through the rising infection rates that we're seeing right now. But there is a real optimism around it."
Total U.S. COVID-19 cases topped 12 million over the weekend and more than 255,000 have died.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.56% on Monday, pushing past a previous record high touched on Friday.
Seoul's Kospi was 1.82% higher as an optimistic earnings outlook for South Korean chip giants drove gains.
Japanese markets were closed for a holiday, but Nikkei futures added 0.19% to 25,795.
The regional index also got a boost from Australian shares which gained 0.51% as the country eased some COVID-19 restrictions. Most of the country has seen no new community infections or deaths in several weeks.
Chinese blue-chips added 0.69%. Hong Kong's Hang Seng was an outlier, edging down 0.2%.
While most regional indexes were up on Monday, sentiment was fragile as monetary and fiscal help for the U.S. economy remained elusive.
U.S. Treasury Secretary Steven Mnuchin said on Thursday that key pandemic lending programs at the Federal Reserve would expire on Dec. 31, putting the outgoing Trump administration at odds with the central bank and potentially adding stress to the economy.