Asia stocks near 2-year high as coronavirus treatment hopes lift mood

SINGAPORE - Asia's stock markets opened higher on Tuesday following a Wall Street rally driven by vaccine hopes, while the dollar found some support ahead of a key central bank speech.

Japan's Nikkei climbed 1.5 per cent and banking stocks led Australia's S&P/ASX 200 up 0.7 per cent. The Kospi Index was up 1.2 per cent.In Singapore, the Straits Times Index was up 1 per cent at 10:17am local time. The US Food and Drug Administration's move was hailed by President Donald Trump. Shares of AstraZeneca also rose on a Financial Times report that the US government was considering fast-tracking its experimental vaccine.

In currency markets, the dollar, which has been sensitive to sentiment in equity markets edged higher, defying pressure from a gain in stocks that often leads investors to sell dollars for riskier currencies.

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