Investors, analysts, authorities are closely monitoring the situation as they would like to know more details about the vaccines developed by various companies. Importantly, stocks in Asia-Pacific were mixed on November 17, as traders wrestled with optimism around a potential coronavirus vaccine as well as economic worries.
Let’s have a look at the stocks to learn more about the challenges. For example, in Australia, the benchmark ASX 200 added 0.25% to 6,547.20. It is worth noting that the so-called Big Four banks closed higher. Shares of Westpac gained 2.31%. However, major miners were mixed with BHP down by 0.87%.
Hopefully, Australian jobs jumped past expectations in October, after the state of Victoria eased coronavirus restrictions. Based on the information provided by the Australian Bureau of Statistics, employment increased by 178,000 people from September. Importantly, the unemployment rate rose slightly from 6.9% to 7%.
Importantly, Japan’s Nikkei 225 dropped 0.36% to 25,634.34. At the same time, the Topix index gained 0.33% to end its trading day at 1,726.41.
South Korea’s Kospi index advanced slightly to 2,547.42.
Hopefully, mainland Chinese stocks saw gains on the day. The Shanghai Composite added 0.47% to 3,363.09. In the meantime, Shenzhen Composite gained 0,63% to 2,275.84. Moreover, the Shenzhen Component advanced 0.87% to 13,777.45.
As a reminder, the session in Asia followed U.S. stocks declining for the second day in a row, pausing a recent rally to new records.
Stocks and coronavirus vaccine
Hopefully, governmental and private organizations are working hard to create an effective vaccine. Based on the information provided by Pfizer and BioNTech their coronavirus vaccine was 95% effective when it comes to preventing Covid-19 and appeared to fend off severe disease. Moreover, Moderna also released information regarding its vaccine. According to the company, its vaccine was more than 94% effective.
However, cases continue to rise in many countries. For example, in the U.S., authorities are moving to reinstitute some of the stay-at-home orders, curfews, and public safety measures. Other countries are also struggling to cope with the coronavirus pandemic. It is worth mentioning that Japan recorded more than 2,000 new cases on Wednesday.
The coronavirus vaccine is important, but it could take several months until governments will be able to vaccinate people. Moreover, it won’t be easy to distribute the vaccine around the world. People should follow the rules as this way it will be easier to avoid nationwide lockdowns. Moreover, governments and companies should join forces to help people who lost jobs due to the restrictions.