Asian shares extend gains after more Wall Street records

The overall stock averages are high because a relatively few stocks are excessively, and probably unjustifiably, high. However, most stocks have not yet gone back to the levels they were at before the pandemic hit. Given that scientists have developed vaccines that will lift us out of the pandemic next year, it is reasonable to expect the underlying economy, and thus the stocks represented by the underlying economy, to recover. At least, that is one point of view. What actually transpires next year will depend on reality, not guesses.