Asia stocks set to trade higher as hopes for a coronavirus vaccine rise

Futures pointed to a higher open for stocks in Japan, while shares in Australia were poised to start their trading day little changed.

Biotech firm Moderna's potential vaccine to prevent Covid-19 produced a "robust" immune response, or neutralizing antibodies, in all 45 patients in its early stage human trial, according to newly released data in the peer-reviewed New England Journal of Medicine.Stocks in Asia were set to trade higher on Wednesday as hopes for a coronavirus vaccine rise.

Futures pointed to a higher open for Japanese stocks, with the Nikkei futures contract in Chicago at 22,890 while its counterpart in Osaka was at 22,710. That compared against theShares in Australia were set to open little changed. The SPI futures contract was at 5,941, as compared to theInvestors on Wednesday will watch for reaction to the latest developments surrounding a potential vaccine for the coronavirus.

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