Investors, analysts, officials, and others are closely monitoring the situation related to the coronavirus and everything connected to this virus. It is not surprising as coronavirus became the biggest challenge for the global economy. Stock markets in Asia, Europe, and around the world suffered due to the issues caused by the coronavirus pandemic.
Hopefully, scientists from various companies and research institutes are working hard to create a drug to treat Covid-19 patients. Moreover, another task is to develop a vaccine, to prevent outbreaks in the future.
Hopefully, according to the information provided by Gilead Sciences, preliminary results of a coronavirus drug trial was quite successful. Thanks to this drug, at least 50% of patients treated with a five-day dosage of remdesivir improved, and more than half even left the hospital in less than two weeks. This news had a positive impact on the market. The number of confirmed cases surpassed 3 million, so scientists are working round the clock to come up with an effective coronavirus treatment.
The White House health advisor Dr. Anthony Fauci also talked about the remdesivir. According to Fauci, this drug would set a new standard of care for Covid-19 patients.
Asian markets on the last day of April
As mentioned above, stock markets saw gains on April 29, thanks to the news connected with coronavirus treatment.
Mainland Chinese stocks saw gains on the last day of April. For example, the Shanghai Composite gained 1.33% to about 2,860.08. At the same time, the Shenzhen composite added 1.88% to around 1,763.36.
Moreover, stocks in Japan saw robust gains following a Wednesday holiday. The Nikkei 225 rose 2.14% to close at 20,193.69 as shares of robot maker Fanuc soared 5.63%. Meanwhile, the Topix index added 1.03% to end its trading day at 1,464.03.
Also, Australia’s S&P/ASX 200 also added 2.39% to close at 5,522.40.
Last but not least, markets in Hong Kong and South Korea were closed on Thursday for a holiday.