Asian shares tallied a seven-week high record on Thursday, with earnings supported by positive results of a coronavirus vaccine trial. However, bonds and currencies traded cautiously ahead of a European central bank meeting set later on Thursday.
Gilead’s (GILD.O) antiviral remdesivir is set to be the standard of care for the deadly respiratory disease after encouraging results showed the vaccine’s ability to aid in fast recovery, said top U.S. infectious disease official Anthony Fauci.
The latest breakthrough boosted Wall Street on Wednesday, helping MSCI’s broadest index of Asia-Pacific shares with a 0.8% increase. The recent record came to be the highest level the index had reached since mid-March.
Japan’s Nikkei .N225 traded 2.5% stronger after a holiday on Wednesday, hitting a seven-week high record. Cautious trading activity was monitored in other asset classes as the U.S. dollar and U.S. futures remained unmoved.
With economic disruptions dragging the world economy to a slowdown, governments and central banks are compelled to release larger volumes of fiscal and monetary stimulus. This urged the European Central Bank to provide more support by expanding its bond purchase.
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
Britain on Wednesday signed a supply deal for up to 60 million doses of a possible COVID-19 vaccine that is being developed by pharmaceutical companies GlaxoSmithKline (GSK) and Sanofi. The financial details of the agreement were not disclosed. However, ...
European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market. The pan-European STOXX index inched higher ...
Samsung Electronics’ shares joined TSMC, its competitor, as both extended gains on Tuesday. This was mainly from upbeat expectations that Intel Corp’s plan of outsourcing more chip producers would favor the chipmakers. Shares of ...
Asian shares fell on Thursday as the U.S.-China tensions overshadowed hopes for more economic stimulus after Washington ordered the closure of Beijing’s consulate in Houston amid spying allegations. China called the order an “unprecedented ...