Asian markets gain on coronavirus vaccine hopes

Reacting to this news, the Nikkei 225 advanced 1.68%, the Topix index also gained 1.56%, South Korea’s Kospi also saw robust gains as it added 1.72%.

May 19, 2020 03:05 IST India Infoline News Service

Stock Market Chart
Asian markets were trading higher on optimism for a possible vaccine to counter the Covid-19 virus.

On Monday, Moderna reported “positive” phase one results for a potential coronavirus vaccine, it said that after two doses all 45 trial participants had developed coronavirus antibodies.

Reacting to this news, the Nikkei 225 advanced 1.68%, the Topix index also gained 1.56%, South Korea’s Kospi also saw robust gains as it added 1.72%.

Hong Kong’s Hang Seng index led gains 2.38% after shares of HSBC soared more than 3%, while the Shanghai Composite up 0.72%.

US indices close at 3-month highs on Monday with the Dow Jones Industrial Average closed 911.95 points higher, or 3.9%, at 24,597.37. The S&P 500 gained 3.2% to finish its trading day at 2,953.91 while the Nasdaq Composite advanced 2.4% to close at 9,234.83. 

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