It was full of challenges for the stocks in the Asia Pacific, as stocks recovered slightly from earlier losses in afternoon trade. Importantly, investors are closely monitoring the situation connected with coronavirus. Russian President Vladimir Putin made an important announcement.
According to Putin, his country registered the world’s first coronavirus vaccine. Moreover, he mentioned that the coronavirus vaccine passed all the necessary checks. It took less than two months to complete clinical trials of the Russian vaccine. This is not the end of the story, as phase three trials are set to begin on Wednesday. Philippines, Saudi Arabia as well as the United Arab Emirates are taking part in those trials.
People should take into account that; no data has yet been published by researchers. Moreover, it is hard to determine the long-term effects and safety of the vaccine created by Russia. It makes sense, as without data it is tough to discuss this vaccine.
Stocks and investor sentiment
On Wednesday, the Shanghai Composite, Shenzhen Composite as well as Shenzhen Component recovered slightly from earlier losses. For example, the Shanghai Composite dropped 0.63% to 3,319.27. At the same time, the Shenzhen Composite fell 1.26% to 2,215.12. Also, the Shenzhen Component declined 1.17% to end its trading day at 13,308.52.
Hong Kong’s Hang Seng index added 1.21% in the afternoon.
Japanese stocks saw gains on the day. The Nikkei 225 added 0.41% to close at 22,843.96. In the meantime, the Topix gained 1.23% to end its trading day at 1,605.53.
Importantly, shares of Softbank Group dropped 2.66% after posting a $12 billion quarterly profit on August 11. However, Softbank posted a quarterly profit after reporting historic losses of $13 billion for its last fiscal year.
South Korea’s Kospi added 0.57% to close at 2,432.35.
Last but not least, Australia’s S&P/ASX 200 fell 0.11% to end its trading day at 6,132.00.
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