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

📆 8/21/2020 6:57 AM
📰 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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Asia stocks slump, gold jumps after Fed says Covid-19 will weigh heavily on US economyTOKYO (REUTERS) - Asian equities and US futures fell on Thursday (Aug 20), hurt by the US Federal Reserve's cautious view of the economy, tensions with China and new clusters of coronavirus infections.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »