. Earth Science News .
EPIDEMICS
Asia markets build on vaccine, Biden gains
by Staff Writers
Hong Kong (AFP) Nov 11, 2020

Asian markets rose again Wednesday as investors continued to ride the positive sentiment from news of a highly successful vaccine trial and Joe Biden's US election victory.

Equities were already in the ascendant at the end of last week as it appeared the former vice president was looking on course to wrest control of the White House from Donald Trump and provide more certainty to world affairs.

But US pharma giant Pfizer and Germany's BioNTech provided rocket fuel Monday when they said their candidate for a Covid-19 vaccine had been 90 percent effective, lifting hope for a move towards normality for the planet.

Stocks that had been beaten down for months owing to lockdowns around the world rallied, while those that had benefited such as tech titans and makers of medical equipment took a hit.

And while the surge appeared to stutter in New York on Tuesday -- the Dow jumped but the S&P 500 slipped -- Asia was positive again.

Tokyo, Sydney and Seoul all rose more than one percent, while Hong Kong, Wellington, Taipei and Jakarta also enjoyed fresh gains.

Singapore and Manila, though, edged back on profit-taking after soaring Tuesday.

Shanghai was also struggling, while traders were keeping tabs on China's massive Singles Day shopping sale, which will be used as a gauge of consumer sentiment as the country emerges from the virus.

Safe havens that are usually the go-to in times of crisis, such as the yen and gold, were also down from their levels of a week ago, while higher-yielding currencies built on gains against the dollar.

And hopes for a lift in demand provided fresh upside for oil prices.

- Logistical headache -

However, observers warned that any vaccination would likely take some time -- with billions around the world needing the drug -- while the economy remains in trouble and the disease continues its rampage.

"You still have a tremendous amount of uncertainty out there, and while equities may continue to climb a wall of worry, the stock market is still subject to the rules of gravity," Jonathan Boyar, of Boyar Value Group, said.

And while US expert Anthony Fauci called the results "extraordinary" and World Health Organization boss Tedros Adhanom Ghebreyesus said the news was "encouraging", experts warned the data still needed reviewing.

And with logistics proving a headache, the economic benefits from the vaccine likely will not be seen until the second half of next year, observers warned.

Axi strategist Stephen Innes said: "Equities were already near record highs. While the leisure industry particularly stands to benefit from a successful vaccine, it is not yet apparent that a vaccine will accelerate an economic recovery too much more than has already been priced."

Traders are also keeping tabs on Washington where Biden is beginning to put together his team, with a focus on fighting the coronavirus.

The battle he faces was highlighted by data Tuesday showing the US recorded more than 200,000 new cases in 24 hours, far exceeding its previous record and putting the country's total at 10.2 million.

The figures raised concerns of new economically painful containment measures, which Americans can ill afford as lawmakers struggle to agree a stimulus package, while there are also fears any new deal will be much smaller than previously hoped.

- Key figures around 0300 GMT -

Tokyo - Nikkei 225: UP 1.7 percent at 25,338.52 (break)

Hong Kong - Hang Seng: UP 0.2 percent at 26,350.89

Shanghai - Composite: FLAT at 3,358.74

Euro/dollar: UP at $1.1826 from $1.1811 at 2200 GMT

Pound/dollar: UP at $1.3272 from $1.3269

Dollar/yen: DOWN at 105.12 yen from 105.27 yen

Euro/pound: UP at 89.11 pence from 89.00 pence

West Texas Intermediate: UP 1.0 percent at $41.78 per barrel

Brent North Sea crude: UP 0.9 percent at $43.98 per barrel

New York - Dow: UP 0.9 percent at 29,420.92 (close)

London - FTSE 100: UP 1.8 percent at 6,296.85 (close)

dan/jah

PFIZER

BioNTech


Related Links
Epidemics on Earth - Bird Flu, HIV/AIDS, Ebola


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


EPIDEMICS
WHO urged to invite Taiwan to key meeting
Geneva (AFP) Nov 6, 2020
The World Health Organization is facing renewed pleas to allow Taiwan to participate in a key international meeting amid fears its exclusion could jeopardise efforts to rein in the coronavirus pandemic. As many parts of the world are reeling from surging numbers of Covid-19 infections and deaths, the WHO is due Monday to resume its main annual meeting, which was cut short in May. But while the World Health Assembly (WHA) is expected to focus heavily on international coordination of the pandemic ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

EPIDEMICS
Delhi battling dual crises of pollution and coronavirus

Winter rains in Beirut finish off blast-ravaged homes

Turkey ends quake rescue mission

'Miracle' girl rescued 91 hours after Turkey quake

EPIDEMICS
Monitoring open-cast mines better than before

3D print experts discover how to make tomorrow's technology using ink-jet printed graphene

Printing self-folding paper structures for future mechatronics

Portrait transmitted via 3D printing

EPIDEMICS
Genome editing experiments reveal gene for heat tolerance in corals

In a warming world, Cape Town's 'Day Zero' drought won't be an anomaly

Changing Pacific Conditions Raise Sea Level Along U.S. West Coast

South American states join forces against Chinese fishing threat

EPIDEMICS
The Anatomy of Glacial Ice Loss

Mystery of glacial lake floods solved

Massive iceberg threatens remote penguin sanctuary

Coast Guard to send its icebreaker to Arctic region

EPIDEMICS
'Plantdemic' hits Philippines as demand for greenery grows

Parasitoid that targets Asian fruit fly is actually two distinct species

Food emissions could push Earth past global warming limits

Ecologically friendly agriculture doesn't compromise crop yields

EPIDEMICS
Eta toll rises to at least 57 in hard-hit Honduras; Next up Florida Keys

Crystals reveal the danger of sleeping volcanoes

WFP earmarks funds as flooding hits thousands in Congo

Storm Eta death tolls rise in Mexico, Honduras

EPIDEMICS
Ethiopian warplanes bombard Tigray as Abiy denies 'chaos'

Ethiopia vows to replace Tigray government as conflict escalates

France said to plan cuts in Sahel force

DR Congo begins disarmament of rebels in troubled Ituri

EPIDEMICS
New male leaders cause female gelada primates to more quickly mature

Newly discovered fossil shows small-scale evolutionary changes in an extinct human species

Neanderthal children grew, weaned similarly to Homo sapien children

Mountain gorillas friendly with neighbors outside of core home ranges









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.