It was a quite complicated day for stocks in Asia-Pacific on Wednesday. One day earlier, major indexes on Wall Street jumped to record highs, and this factor affected stocks in Asia-Pacific. Let’s have a look at mainland Chinese stocks, and other stocks as well to learn more about the situation.
Importantly, Hong Kong’s Hang Seng index dropped 0.13% to close at 26,532.58. Interestingly, shares of Xiaomi in Hong Kong, which were suspended earlier on Wednesday, fell 7.07% on the day. One of the major smartphone makers announced plans to raise nearly $4 billion by selling new shares and bonds. The company made this announcement on Wednesday.
At the same time, shares of Evergrande Property Services dropped 0.2% from their issue price as they made their debut on December 2. As a reminder, Evergrande Property Services is part of Chinese property developer China Evergrande Group.
Notably, shares of China Evergrande Group listed in Hong Kong declined 2.53%.
Importantly, mainland Chinese stocks were mixed on Wednesday. The Shanghai Composite slightly fell to about 3,449.38. In the meantime, the Shenzhen Component added 0.224% to approximately 13,961.58.
South Korea’s Kospi index added 1.58% to close at 2,675.90.
In Japan, the Nikkei 225 ended its trading day slightly higher at 26,800.98. Meanwhile, the Topix index added 0.32% to close at 1,773.97.
Australia’s S&P/ASX 200 closed little changed at 6,590.20.
On Tuesday, the S&P 500 added 1.1% to close at 3,662.45 a new record closing high. Also, the Nasdaq Composite saw a record close as it jumped 1.3% to 12,355.11. Moreover, the Dow Jones advanced 185.28 points to close at 29,823.92.
Stocks and coronavirus vaccine
The coronavirus pandemic remains one of the most discussed issues around the world. On Wednesday, the U.K. made an important decision by authorizing the Pfizer-BioNTech vaccine for emergency use. Importantly, the vaccine will now be rolled out in the country next week.
It is worth noting that the government of the U.K. is the first in the world to formally approve the U.S.-German vaccine for widespread use, and as a result, Britain will be one of the countries to begin vaccinating its population. As a reminder, in the U.S. the Food and Drug Administration may also authorize this vaccine for emergency cases in the nearest future.
Private as well as governmental organizations are working hard to deal with the coronavirus pandemic. An effective vaccine is important as thanks to a coronavirus vaccine it would be easier to stabilize the situation.