Investing.com - Asian stocks hit a record high on Monday on hopes of a much-needed U.S. stimulus before the end of the year. Meanwhile, oil prices rose near their highest level since March.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent to 643.1 points, its fifth consecutive gain.

This year it was up 16.3%, the best since a 33% increase in 2017.

Nikkei Japan added 0.1%, while Australian shares rose 0.8%.

The UK is preparing to become the first country to launch Pfizer/Biontech's Kovid-19 vaccine this week. U.S. officials will also discuss the program before the first round of vaccinations this month.

On Wall Street, stock indexes rose to an all-time high on Friday. The Dow Jones industrial average rose 0.8%. S&P 500 The Nasdaq rose 0.9% and the Nasdaq rose 0.7%.

The U.S. economy had its lowest employment in six months in November, with nonfarm payrolls up 245,000 jobs last month, lower than the 469,000 projected.

California reported more than 30,000 new cases on Sunday, higher than the state's previous highest level of 21,986 on December 4 and a new record for covid -19 patients.

On the Brexit side, British Prime Minister Boris Johnson and European Commission President Ursula von der Leiner are scheduled to hold talks on Monday.

If the deal is not reached, Brexit will end in a mess, with britain and its former EU partners grappling with the severe economic costs of the COVID-19 outbreak.

The pound was down 0.2% at $1.3412, while the single currency was steady at $1.2122, not far from its highest level in April 2018 at $1.2177.

The Australian dollar was little bit ahead at $0.7430.

That led the US dollar to change slightly to 90.808 against a basket of major currencies after touching a 2-1/2-year low last week.

Oil prices rose near their highest level since March on Friday, amid expectations about U.S. stimulus measures and the possibility of a vaccine.

WTI Crude Oil FuturesU.S. crude closed 13 cents at $46.13 a barrel and Brent was down 49.10 cents at $49.10. Brent OilLost about a quarter of its value this year.

Spot GoldIt touched a record high of $2,072.49 per ounce at $1,837.9, which is still up 21% this year.
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