Asia shares rally as investors applaud vaccine development

Asian share markets mostly shot higher on Tuesday driven by regional airline, tourism and travel stocks as global investors applauded progress in the development of a coronavirus vaccine which lifted confidence in a world economic recovery. Pfizer Inc said its Covid-19 vaccine, developed with German partner BioNTech SE, was more than 90 per cent effective in preventing infection, marking the first successful results from a large-scale clinical trial. “Markets will remain on the lookout for more promising vaccine data in addition to news of a fiscal reboot,” PineBridge Investments portfolio manager Mary Nicola told Reuters. The vaccine news sparked renewed optimism in equities around the...