GLOBAL MARKETS-Asian shares on firm footing as vaccine trials resume

* Asian stock markets : https://tmsnrt.rs/2zpUAr4

SYDNEY, Sept 14 (Reuters) - Asian shares started higher on
Monday as hopes of a coronavirus vaccine were rekindled after
AstraZeneca resumed its phase-3 trial while sentiment was still
cautious ahead of a big week of central bank meetings in UK,
Japan and the United States.
MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS was up 0.5%, poised for its second straight
session of gains.
Australian shares .AXJO climbed 0.2% while Japan's Nikkei
.N225 added 0.3%.
U.S. stock futures, the S&P 500 e-minis ESc1 , rose a solid
0.8% after a mixed session on Wall Street last week. .N
Friday marked six months since the World Health Organization
(WHO) declared the coronavirus a pandemic on March 11.
Since then, major global economies have slipped into
recession and millions have lost their jobs, prompting central
banks around the world to launch unprecedented stimulus.
The policy bazooka has buoyed financial markets, with the
S&P500 .SPX up 22%, 10-year Treasury yields diving 20.4 basis
points and the greenback =USD sliding 3.3%. The best
performing major currency has by far been the Australian dollar
AUD=D3 , up 11.9%, thanks to sound risk appetite.
"A wild ride indeed and one that is likely to continue as
phase 3 vaccine results starts to roll through over the coming
weeks," NAB analyst Tapas Strickland said in a note on Monday.
AstraZeneca AZN.L said on the weekend it has resumed
British clinical trials of its COVID-19 vaccine, one of the most
advanced in development, after getting the green light from
safety watchdogs. The late-stage trials of the experimental vaccine, developed
with researchers from the University of Oxford, were suspended
last week after an illness in a study subject in Britain,
casting doubts on an early rollout.
A vaccine has long been awaited to help pull the world out
of a coronavirus-induced lockdown.
"The reopening of the global economy is enticing us to
recommend a trade going long a basket of 14 laggard 'back to
work' stocks versus a basket of 14 high-flying 'COVID-19
winners'," BCA Research wrote in a note.
"While we maintain a cyclical and secular bullish outlook on
the broad market, a short-term correction due to technical and
(geo) political reasons is likely on the cards," it said
"A playable short-term pullback is in order."
Later this week, the U.S. Federal Reserve will hold its
two-day policy meeting where it is expected to hold rates while
elaborating on the already-announced shift to inflation
targeting.
Also, "the Fed is set to be less pre-emptive in tightening
policy than in the past," NAB's Strickland noted.
The Bank of Japan and the Bank of England will announce
their respective policy decisions on Thursday.
Asia's focus will be on the election of Japan's new Prime
Minister with a party room vote expected to begin at 0500 GMT.
In currencies, the dollar was mostly steady against the yen
at 106.11 JPY= , a long distance from its low this year of
101.2.
The euro EUR= was flat at $1.1841. The Aussie AUD=D3 was
down slightly at $0.7283.
In commodities, U.S. crude CLc1 ticked up 0.4% to $37.49 a
barrel. Brent LCOc1 rose to $39.86 per barrel.
Gold was slightly higher, with spot prices XAU= at
$1,942.3 per ounce. GOL/

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(Editing by Sam Holmes)