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Asian stocks lifted by Covid-19 vaccine hopes, but new cases cause concern | Malay Mail

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HONG KONG, Aug 21 — Hopes for a vaccine helped push Asian equities higher today following another tech-inspired record on Wall Street, with investors brushing off a surprisingly weak US jobs report, though optimism remains checked by the spreading virus and the US stimulus stalemate. While vast...

Friday, 21 Aug 2020 01:41 PM MYT

While vast central bank support has helped fan a surge in equities globally, titans such as Amazon and Apple have been major winners as the pandemic keeps billions of people stuck at home, pushing the Nasdaq to numerous records, and yesterday marked the latest. But a tough week for regional markets looked set to end on a positive note, with optimism lifted after Pfizer and BioNTech SE said a vaccine they are working on could be up for regulatory review by October.While massive financial support from central banks and governments has been crucial to helping economies, a vaccine for a disease that has killed nearly 800,000 people and infected more than 22 million is seen as paramount.The news “has raised some expectation...

Hong Kong rose 0.7 per cent in the morning, while Sydney went into the break 0.3 per cent higher and Shanghai gained 0.5 per cent. Italy saw its highest daily tally since May, France reported 4,700 fresh infections — a massive increase on the previous day — Spain’s daily jump beat even those of France, while Germany’s was at a four-month high.

 

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