* Asian stock markets: https://tmsnrt.rs/2zpUAr4
* Equities dip in choppy trade on profit-taking
* U.S. lawmakers renew attempt at stimulus bill
* Progress toward coronavirus vaccine boosts risk appetite
By Stanley White and Jessica DiNapoli
TOKYO/NEW YORK, Dec 2 (Reuters) - Asian shares rose on Wednesday after a strong lead from Wall Street fuelled by hopes for additional U.S. economic stimulus and a coronavirus vaccine, but trade was choppy as some investors booked profits.
Top U.S. Senate Republican Mitch McConnell said on Tuesday that Congress should include new coronavirus stimulus in a $1.4 trillion spending bill aimed at heading off a government shutdown in the midst of the pandemic. President-elect Joe Biden told the New York Times his priority is getting a generous aid package through Congress even before he takes office in January. U.S. health officials, meanwhile, announced plans to begin vaccinating Americans against the coronavirus as early as mid-December once regulatory approvals are in place, as nationwide deaths hit the highest number for a single day in six months. broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.27%, but was still trading below last week's all-time high. Australian stocks .AXJO rose 0.12%.
Shares in China .CSI300 recovered from early losses and rose 0.12%.
Tokyo stocks .N225 were little changed after setting a new 29-year high. Softbank Group shares 9984.T fell 0.66% after Bloomberg News said the tech investor is winding down its options trades on companies including Amazon.com Inc AMZN.O and Facebook Inc FB.O .
South Korean shares .KS11 hit a record high due to signs of an increase in semiconductor demand. stock futures EScv1 declined 0.23% following a record closing high for Wall Street shares.
Europe also looked set for a softer open, with Euro Stoxx 50 futures STXEc1 down 0.37%, German DAX futures FDXc1 down 0.35%, and FTSE futures FFIc1 trading 0.38% lower.
Benchmark U.S. Treasury yields eased slightly but remained near a three-week high as Republicans and Democrats submitted proposals for economic stimulus in a bid to pass a bill some time this month. say downside for global equities is likely limited, with major uncertainties surrounding the outlook now fading.
"We've had some positive leads, and a combination of optimism around the vaccine, and government and central bank stimulus remains in place," said Michael McCarthy, chief markets strategist at CMC Markets. "It's a sweet spot for markets."
MSCI's gauge of stocks across the globe .MIWD00000PUS rose 0.07% in Asia on Wednesday, edging toward an all-time high.
Pfizer Inc (NYSE:PFE) PFE.N and Germany's BioNTech SE BNTX.O sought emergency approval of their vaccine candidate from the European regulator on Tuesday. Competitor Moderna Inc MRNA.O also applied for emergency approval from the European regulator on Tuesday. and BioNTech said their vaccine could be launched in the European Union as early as this month, though a European regulator clouded the schedule when it said it would complete its review of their vaccine by Dec. 29. U.S. 10-year Treasury yield US10YT=RR stood at 0.9129% in Asia, not far from a three-week high of 0.9380% hit in the previous session as investors priced in the likelihood of more fiscal spending.
The spread between two-year and 10-year yields US2US10=TWEB was also near its steepest in three weeks.
Higher yields did not support the dollar =USD , which was mired near its lowest level in more than 2-1/2 years as investor appetite for risk increased. this year Japan's Softbank Group raised eyebrows by buying billions of dollars of call options for U.S. tech giants while taking long positions in the underlying shares.
Some analysts say hedging by the counterparties that sold the options to Softbank contributed to a frenzied rally in the U.S. tech sector. could be big news ... and bad for the tech market," Andrew Brenner, New York-based head of international fixed income at NatAlliance Securities, said in a note, adding that it depends on how much you believe SoftBank was behind increased option volatility.
Oil prices extended losses in Asian trading after OPEC and its allies left markets in limbo by postponing a formal meeting to decide whether to lift output in January.
Brent crude futures LCOc1 fell 0.74% to $47.01 per barrel, while U.S. crude CLc1 fell 0.88% to $44.16 per barrel. Global assets
http://tmsnrt.rs/2jvdmXl Global currencies vs. dollar
http://tmsnrt.rs/2egbfVh Emerging markets
http://tmsnrt.rs/2ihRugV MSCI All Country Wolrd Index Market Cap
http://tmsnrt.rs/2EmTD6j
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>