Asia: Stocks lifted by vaccine hopes, but new cases cause concern

📆 21/08/2020 07:57:00
📰 BusinessTimes

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[HONG KONG] Hopes for a vaccine helped push Asian equities higher Friday 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. Read more at The Business Times.

If all goes well, a treatment could be ready to roll out as soon as November.

"From a stock market concern, it's great for growth assets as planes will fly, the oil will flow, and laggard industries will emerge from the Covid-19 fog, and their stocks will soar. Indeed, with a vaccine cure, a trip to your local clinic could be the one-stop recession plugger before the year is out."

However, the disease continues to spread, and is seeing a resurgence in Europe - just as the rate of new US cases appears to be easing - largely because of renewed travel, summer holidays and parties.

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