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© Reuters. TV camera men wait for the market to open in front of a large screen showing stock prices on the Tokyo Stock Exchange in Tokyo
By Stanley White
TOKYO (Reuters) – Asian stocks stuck near record highs on Friday as investors weighed renewed doubts about a much-anticipated coronavirus vaccine against hopes that some economies in the region will recover faster than their western counterparts.
The MSCI’s largest Asia-Pacific stock index outside of Japan fell 0.04%, but remained with a striking distance from a life-hit peak this week.
Australian stocks ended down 0.53%. Treasury Wine Estates (OTC 🙂 Ltd fell 11.25% after China slapped tariffs on Australian wine, which is likely to escalate a diplomatic row between Beijing and Canberra.
rose 0.33% in volatile trade.
Shares in China rose 0.13% after data showed Chinese industrial profits surged at the fastest pace since the start of 2017. South Korean stocks also rose 0.27%.
US e-mini stock futures fell 0.09%. U.S. financial markets were closed Thursday for the Thanksgiving holiday and will trade on a partial schedule later Friday.
were down 0.26%, German down 0.24% and futures down 0.22%, suggesting a soft start to the European session.
Oil prices in the United States have extended their decline from a seven-month high due to signs of oversupply.
British manufacturer AstraZeneca’s (NASDAQ 🙂 coronavirus drug has been touted as a “vaccine for the world” because of its inexpensive cost, but the vaccine’s effectiveness is now under further scrutiny. which, according to experts, could delay its approval.
Several scientists questioned the robustness of the results showing that the shot was 90% effective in a subgroup of trial participants who initially mistakenly received a half dose followed by a full dose .
“With the number of cases worldwide now having passed 60 million … there is certainly difficult ground for the global recovery, and that can create economic scars,” ANZ Bank analysts wrote in a note.
The MSCI’s broadest global equity indicator was up 0.08% on Friday, hitting just below a record set in the previous session.
Concerns over the distribution of a coronavirus vaccine have re-focused the current state of the pandemic, which appears grim in many places.
U.S. hospitalizations for COVID-19 are on record, and experts warn Thanksgiving gatherings could lead to more infections and deaths.
More than 20 million people across England will be forced to live under the most severe restrictions even after a nationwide lockdown ends on December 2. Partial lockdowns in some European countries have also raised concerns about economic growth.
The chief economist of the European Central Bank underscored the concerns in conciliatory comments on Thursday, which pushed European bond yields lower.
The euro, which last bought $ 1.1924, did little to react as traders largely took into account expectations of further ECB easing next month.
The fell to its lowest in more than two months.
The benchmark’s return fell to 0.8586% as some investors sought the safety of holding government debt.
dipped 1.82% to $ 44.88 a barrel. fell 0.17% to $ 47.72 a barrel.
Demand for fuel is falling due to further coronavirus lockdowns, but some oil producers are not complying with agreed production cuts, raising concerns about oversupply.
, the world’s largest cryptocurrency, climbed to $ 17,256 on Thursday, but fell 8.4% in the previous session after failing to hit its all-time high of $ 19,666.
The cryptocurrency has hardly reacted to a Financial Times report that Facebook (NASDAQ 🙂 will launch its own digital currency Libra in a limited format next year.
Bitcoin has risen by around 140% this year, fueled by demand for riskier assets.
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