Japanese stocks kept uptrend on hopes of Covid-19 vaccine

Japanese stocks kept uptrend on hopes of Covid-19 vaccine

Aviation stocks in Asia soared again on hopes of a vaccine against Covid-19, while the regional market closed the day on November 17 with contradictions.

Japan’s Nikkei 225 increased by 0.42% on November 17 trading after hitting a 52-week high. Documentary photo: AFP

In Japan, after hitting a 52-week high on November 16, the Nikkei 225 on Nov. 17 moved another 0.42 percent to close at 26,014.62, while Topix rose 0. , 16% to 1,734.66 points. In contrast, South Korea’s Kospi index slipped 0.15% to 2,539.15 points.

After the problem of suspending trading for almost all day 11/16 due to the error “incorrect market data”, Australian stocks “green floor” on the trading day of November 17 with a modest increase of 0.21% to 6,498.20 points.

Mainland Chinese stocks closed in the red today. The Shanghai Composite Index fell 0.21% to 3,339.90 points while the Shenzhen Component slid further with 0.85% to 13,732.52. On the Hong Kong market, the Hang Seng index went sideways at the end of the day at 26,415.09 points.

Meanwhile, Singapore’s Straits Times index rose by nearly 1% at the last hour, despite the country’s export information (excluding oil) in October down 3.1% from the same period last year, left contrary to the previous 5.7% increase forecast. Overall, the MSCI Asia-Pacific (excluding Japan) still declined, but not significantly, to 620.56 points.

Wall Street Stocks hit a new milestone last night after the Moderna Biotechnology Company (USA) announced the results of a phase 3 preliminary test showing that the vaccine developed by this company was effective in preventing Covid-19. more than 94%. Accordingly, the Dow Jones industrial average increased 470.63 points, equivalent to 1.6%, to 29,950.44 points, while the S&P 500 reached the highest level in history with 3,626.91 points. 1.2% increase. Meanwhile, the Nasdaq Composite rose 0.8% to 11,924.13 points.

Previously, Pfizer and BioNTech also announced that the results of the Covid-19 resistance vaccine trial by these two units were more than 90% effective in preventing the virus.

“Stock markets are watching for movements that affect medium-term growth and it seems that growth prospects will be brighter from the second half of 2021. However, Covid-19’s spread today is still holding back. short-term growth prospects, ”warned Felicity Emmett, senior economist at ANZ.

Recently, the United States has seen a sudden increase in the number of cases and hospitalizations due to Covid-19. The country has recorded 1 million new infections in less than a week. According to data from Johns Hopkins University, the United States has so far recorded a total of more than 11 million Covid-19 cases.

The good news about the Covid-19 resistance vaccine trial continues to fly aviation shares in the Asia-Pacific region. In Australia, Qantas shares rose 1.54%, while Air New Zealand shares rose about 2.74%.

In Japan, shares Japan Airlines and All Nippon Airways respectively increase 3.72% and 4%. Shares of Singapore Airlines rose nearly 5%, while shares of Hong Kong’s Cathay Pacific rose the most with 7%.

Oil prices in Asian markets on November 17 fluctuated in contrast with stocks. US crude futures for delivery slid 0.12% to $ 41.29 / barrel while Brent crude for futures rose 0.16% to $ 43.89 / barrel.

The money market saw the greenback depreciate. The US dollar index against other major currencies fell to 92,563, from above 92.6 established earlier. Japanese Yen appreciated from 11/16 and converted 104.52 JPY / USD, while Australian dollar inched to 1 AUD / 0.7303 USD, from 1 AUD / 0.72 USD was set earlier. .