HONG KONG • South-east Asian stocks, hit particularly hard by the shutdown of tourism and other service industries, are making a comeback as optimism grows over a return to travel. The MSCI Asean Index has surged 14 per cent in an eight-day winning streak, almost double the 7.4 per cent rally in the MSCI Asia-Pacific Index over the same period. At its highest since March, the gauge of South-east Asian shares has narrowed the gap with its peers but still remains down about 14 per cent for the year. The broader Asian gauge is up 8 per cent. Investors are jumping on South-east Asian stocks as part of a global rotation into value and out of growth sectors after positive results from a Pfizer vaccine boosted sentiment. Governments across the region are looking to ease social distancing measures, with Singapore and Hong Kong announcing on Wednesday that they will start an air travel bubble, replacing quarantine with Covid-19 testing from Nov 22. "The vaccine news opens up sectors under great stress like airlines and hotels," Mr Leon Goldfeld, head of multi-asset solutions for the Asia-Pacific at JPMorgan Asset Management, said in a press briefing. "What we've seen is a massive rotation i...