Airline and casino stocks soar in Asia-Pacific on the back of coronavirus vaccine hopes – CNBC

Japan Airlines surged 21.21% while ANA Holdings advanced 18.06%. Korean Air Lines added 11.24% while Singapore Airlines shares soared 13.99%. Over in Hong Kong, Wynn Macau soared 9.95% while Melco International Development acquired 6.84%. Hong Kong-listed shares of PetroChina and CNOOC popped 6.44% and 13.96%, respectively.Were far from being out of the woods, yet.Agathe Demaraisglobal forecasting director at the Economist Intelligence UnitStay-at-home and defensive stocks dropBailin said he expects an “extraordinary rotation” away from defensive and “stay-at-home” shares toward cyclicals.

People are silhouetted against Singapore Airlines Airbus planes at Changi International Airport in Singapore on October 24, 2020. ROSLAN RAHMAN

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