Stocks hold gains on easing Fed taper worries as Powell speech awaited

Stockfocus (4)

HONG KONG: Asian shares held onto their recent gains on Wednesday after last week's pummelling, as global equities rebounded thanks to a combination of positive COVID-19 vaccine news and easing worries over tapering of Federal Reserve stimulus.

MSCI's broadest index of Asia-Pacific shares outside Japan was last off slightly, but still up 3.7% so far this week. The index fell to its lowest in 2021 at the end of the previous week.