The aviation industry is struggling to deal with one of the most if not the most serious crises of the 21st century. Most of the airports are almost empty and it won’t be easy to convince travelers to return to airports. It will take at least several months to improve the situation. Meanwhile, some of the airlines may disappear due to the lack of demand as well as other issues. International air travel fell to the lowest level due to the ongoing situation. Let’s have a look at the stocks. On Tuesday, shares of the flag carrier Thai Airways jumped 12%. This move came after the country’s cabinet approved a plan for the airline to go to the bankruptcy court to restructure for debt restructuring.
Another news that affected the markets is connected with the coronavirus vaccine. People all over the world are waiting for an effective coronavirus vaccine. Thanks to this virus, it will be easier to contain such outbreaks in the future. According to Moderna, after two doses all 45 participants had developed coronavirus antibodies. Nevertheless, it is too early to say how long it will take to produce an effective vaccine.
Shares of Hyundai Motor and Asian markets
Stocks across the Asia Pacific reacted to the news related to the potential coronavirus vaccine. For example, South Korea’s Kospi index gained 2.25% to close at 1,980.61 with shares of world-famous automaker Hyundai Motor jumped 7.83%.
Japan’s Nikkei 225 ended its trading day 1.49% higher at 20,433.45 as shares of robot maker Fanuc gained 3.99%. Moreover, the Topix index rose 1.83% to close at 1,486.05.
Moreover, mainland Chinese stocks saw gains on the day. The Shanghai Composite added 0.81% to about 2,898.58. In the meantime, Shenzhen Composite gained 1.21% to 11,052.85.
Also, Australia’s S&P/ASX 200 added 1.81% to close at 5,559.50.