On Wednesday, stocks in the Asia Pacific reacted to the news connected with the coronavirus pandemic and its vaccine. Mainland Chinese stocks recovered slightly from earlier losses. The Shanghai Composite fell 0.63% to 3,319.27. In the meantime, the Shenzhen Composite dropped 1.26% to 2,215.12. Moreover, the Shenzhen Component fell 1.17% to end its trading day at 13,308.52.
Hong Kong’s Hang Seng index rose on August 12.
Interestingly, Japanese stocks saw gains on the day. The Nikkei 225 gained 0.41% to close at 22,843.96. Also, the Topix added 1.23% to end its trading day at 1,605.53.
It is worth mentioning that, shares of Softbank Group fell 2.66% after posting a $12 billion quarterly profit on August 11. Notably, Softbank posted a quarterly profit after reporting historic losses of $13 billion for its last fiscal year.
South Korea’s Kospi gained 0.57% to close at 2,432.35.
Australia’s S&P/ASX 200 dropped 0.11% to end its trading day at 6,132.00.
Stocks and Coronavirus Vaccine
Stocks recovered slightly from earlier losses in afternoon trade. Investors are constantly monitoring the situation regarding the coronavirus pandemic and its impact on the global economy. This week, Russian President Vladimir Putin made an interesting announcement.
According to Vladimir Putin, his country registered the world’s first coronavirus vaccine. Furthermore, he stated that the coronavirus vaccine passed all the necessary checks.
Interestingly, it took less than two months to complete clinical trials of the vaccine. Philippines, Saudi Arabia, and the United Arab Emirates are taking part in those trials.
It is worth mentioning that no data has yet been published by researchers. As a result, it is hard to talk about the long-term effects and safety of the vaccine created by Russia. However, because it is the first vaccine it does not automatically mean that it won’t be able to protect people. Scientists from around the world should work together to choose the best vaccine.
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