GLOBAL MARKETS-Asian shares at all-time highs on U.S. stimulus, vaccine hopes

* Risk appetite fuelled by hopes of COVID-19 relief
* JP Morgan sees strongest global GDP rebound in two decades
* Sterling weaker ahead of looming Brexit deadline
* Asian stock markets : https://tmsnrt.rs/2zpUAr4

By Swati Pandey
SYDNEY, Dec 7 (Reuters) - A gauge of Asian shares hit a
record peak on Monday on hopes of a much-needed U.S. stimulus
package before year-end just as coronavirus vaccines roll out,
while oil prices hovered near their highest since March.
MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS rose 0.2% to 643.1 points, on track for its
fifth straight session of gains.
It is up 16.3% so far this year, the best since a 33% jump
in 2017.
Japan's Nikkei .N225 added 0.1% while Australian shares
.AXJO climbed 0.8%.
Britain is preparing to become the first country to roll out
the Pfizer/BioNTech COVID-19 vaccine this week. U.S. authorities
will also this week discuss the programme before the expected
first round of vaccinations this month. Hopes the vaccines will help curb the pandemic which has so
far killed more than 1.5 million people globally sent shares
soaring in recent weeks.
On Wall Street, stock indexes reached fresh all-time highs
on Friday with the Dow .DJI rising 0.8%, the S&P 500 .SPX
gaining 0.9% and the Nasdaq .IXIC adding 0.7%. .N
"The vaccine will break the link between mobility and
infection rate, allowing for the strongest global GDP growth in
more than two decades," JPMorgan analysts wrote in a note,
forecasting global growth of 4.7% in 2021.
"Tracking second waves through October and November,
economic activity has surprised to the upside. This is true in
both Europe and the U.S. This may be why financial markets have
largely ignored the spike in cases, hospitalizations, and
deaths."
Still, expectations of a U.S. stimulus gathered pace after
weak payrolls data last week.
The U.S. economy added the fewest workers in six months in
November, with nonfarm payrolls increasing by 245,000 jobs last
month, much lower than expectations for a 469,000 increase.
A resurgence of the virus in many developed countries,
including the United States remains a threat.
California reported more than 30,000 new cases on Sunday,
exceeding the state's previous high of 21,986 set on Dec. 4, and
marked a new record for hospitalized COVID-19 patients. New
Jersey, North Carolina, Virginia and West Virginia also
announced record one-day rises in new infections. More than 23 million people in Southern California were
preparing on Sunday to face the harshest lockdowns in the United
States.
In currencies, investor focus is on a last-ditch attempt by
Britain and the European Union to strike a post-Brexit trade
deal this week, with probably just days left for negotiators to
avert a chaotic parting of ways at the end of the year.
British Prime Minister Boris Johnson and European Commission
President Ursula von der Leyen are due to hold a call on Monday
in the hope that, by then, stubborn differences over fishing
rights in UK waters, fair competition and ways to solve future
disputes will have narrowed. If there is no deal, a five-year Brexit divorce will end
messily just as Britain and its former EU partners grapple with
the severe economic cost of the COVID-19 pandemic.
The pound GBP= was down 0.2% at $1.3412 while the single
currency EUR= was flat at $1.2122, not too far from an April
2018 high of $1.2177.
The risk sensitive Australian dollar AUD=D3 was mildly
positive at $0.7430.
That left the U.S. dollar little changed at 90.808 against a
basket of major currencies, after hitting a 2-1/2 year low last
week. USD=
In commodities, oil prices hovered near their highest since
March on Friday amid expectations of a U.S. economic stimulus
package and the possibility of a vaccine. O/R
U.S. crude CLc1 was off 13 cents at $46.13 per barrel and
Brent LCOc1 was down at $49.10. Brent has lost about a quarter
of its value this year so far.
Spot gold XAU= , which hit a record high of $2,072.49 an
ounce, was last at $1,837.9, still up a hefty 21% this year.

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(Editing by Lincoln Feast.)