BEIJING (AP) — Asian stocks rose Monday after Wall Street hit a new high and investors were encouraged by government stimulus and the rollout of coronavirus vaccines. Shanghai, Tokyo, Hong Kong and Seoul advanced. Wall Street’s advance Friday was led by stocks that would benefit if vaccinations and government spending boost the U.S. economy as much as expected. John Bilton of JP Morgan Asset Management said vaccines and stimulus have “helped to create an aura of high optimism.” Markets have been swinging between optimism that vaccines might allow business and travel to return to normal and anxiety over setbacks in distribution and concern about possible inflation after massive government stimulus.
