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Asian stocks fall amid fears of vaccine development

Beijing – Asian stock markets fell on Friday as questions about the effectiveness of one possible coronavirus vaccine weighed heavily on investor optimism.

Benchmarks in Tokyo, Hong Kong, Seoul and Sydney have receded and Shanghai has risen.

Investors are encouraged to report progress towards vaccine potential. But they were worried after researchers questioned the data showing that Oxford University and AstraZeneca candidates were 70% valid.

“Market participants are becoming more and more anxious as data errors become apparent,” Mizuho Bank said.

The Nikkei 225 in Tokyo fell 0.1% to 26,506.97, and the Hang Seng Index in Hong Kong fell 0.2% to 26,761.22. The Shanghai Composite Index rose 0.4% to 3,383.06.

Seoul’s Kospi lost less than 0.1% to 2,625.84, and Sydney’s S & P-ASX 200 fell 0.7% to 6,592.50. New Zealand and Jakarta were acquired during Singapore’s withdrawal.

The US market was closed due to a Thursday holiday.

Investors look forward to the potential of vaccines to control the coronavirus following the most severe economic downturn since the 1930s, but predictors say stock market recovery may be premature and unsustainable. I warn you that there is a sex.

When researchers asked this week how Oxford and AstraZeneca calculated the efficacy of the vaccine, those hopes were dented. The alliance is among researchers who have reported the most progress towards possible vaccines. AstraZeneca’s CEO told Bloomberg News that the company could have another trial.

Investors are also disappointed that US states and European governments are imposing restrictions on business and travel as infection rates skyrocket.

According to data collected by Johns Hopkins University, the disease has killed more than 1.4 million people worldwide and has 61 million confirmed cases.

The market is worried about US data showing weakening consumer spending and rising unemployment.

The supplementary unemployment benefits that underpinned consumer spending, the driving force of the US economy, have expired. Congress is stalled with possible new aid plans.

In the energy market, benchmark US crude fell 67 cents to $ 45.04 a barrel in electronic trading on the New York Mercantile Exchange. In London, Brent crude, which was used to price international oil, fell 11 cents to $ 47.90 a barrel.

The dollar fell from 104.25 yen on Thursday to 104.07 yen. The euro rose from $ 1.1906 to $ 1.1920.

Copyright 2020 AP communication. all rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.

Asian stocks fall amid fears of vaccine development

Source link Asian stocks fall amid fears of vaccine development

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