Asia shares rally on vaccine hopes, oil retreats after early gains

asian market higher

SYDNEY/HONG KONG: Asian shares extended gains on Tuesday as more countries emerged from their economic lockdowns and a successful early-stage trial of a coronavirus vaccine cheered sentiment, although oil shed some of its early moves higher.

The rally followed a firmer Wall Street lead after data from Moderna Inc's COVID-19 vaccine, the first to be tested in the United States, showed it produced protective antibodies in a small group of healthy volunteers.