Asian markets gain on new hope for coronavirus vaccine


Asian markets rose in early trading Tuesday, following sharp gains on Wall Street as the U.S. economy continued to slowly reopen and drug maker Moderna announced positive early results from a potential COVID-19 vaccine.

Japan’s Nikkei
NIK,
+1.90%

gained 1.9% and Hong Kong’s Hang Seng Index
HSI,
+1.62%

jumped 1.8%. The Shanghai Composite
SHCOMP,
+0.47%

advanced 0.5% while the Shenzhen Composite
399106,
+0.62%

rose 0.5%. South Korea’s Kospi
180721,
+1.80%

surged 1.7%, and benchmark indexes in Taiwan
Y9999,
+1.07%

, Singapore
STI,
+1.89%

, Malaysia
FBMKLCI,
+0.76%

and Indonesia
JAKIDX,
+2.08%

all gained. Australia’s S&P/ASX 200
XJO,
+1.71%

rose 1.9%.

In Tokyo trading, Nippon Steel
5401,
+7.66%

surged while SoftBank
9984,
-1.99%

fell after posting a massive fiscal-year loss. Link Real Estate Investment
823,
+3.52%

and PetroChina
857,
+3.33%

gained in Hong Kong. Samsung Electronics
005930,
+2.45%

rose in South Korea, while BHP
BHP,
+4.80%

jumped in Australia.

Moderna Inc.
MRNA,
+19.95%

shares soared 20% Monday after the company released “compelling”…

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