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May 18, 2020, 11:21 p.m. EDT

Asian markets gain on new hope for coronavirus vaccine

Nikkei, Hang Seng surge after Moderna’s early-stage drug trial boosts Wall Street

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By Marketwatch


Getty Images/iStock Photos
Stocks gained Tuesday in Hong Kong.

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 /zigman2/quotes/210597971/delayed JP:NIK +0.72%   gained 1.9% and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.99%   jumped 1.8%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +2.01%   advanced 0.5% while the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +1.28%   rose 0.5%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.80%  surged 1.7%, and benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +0.88%  , Singapore /zigman2/quotes/210597985/delayed SG:STI +0.62%  , Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI +1.07%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.14%   all gained. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.42%   rose 1.9%.

In Tokyo trading, Nippon Steel /zigman2/quotes/209782682/delayed JP:5401 -0.03%   surged while SoftBank /zigman2/quotes/207303954/delayed JP:9984 +2.63%   fell after posting a massive fiscal-year loss. Link Real Estate Investment /zigman2/quotes/206625692/delayed HK:823 +0.23%   and PetroChina /zigman2/quotes/204979431/delayed HK:857 +2.27%   gained in Hong Kong. Samsung Electronics /zigman2/quotes/209800866/delayed KR:005930 +1.32%   rose in South Korea, while BHP /zigman2/quotes/201448516/delayed AU:BHP +0.69%   jumped in Australia.

Moderna Inc. /zigman2/quotes/205619834/composite MRNA -4.90%   shares soared 20% Monday after the company released “compelling” early data from a phase-one clinical trial for its experimental coronavirus vaccine, providing a jolt to markets.

The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.36%   surged 911.95 points, or 3.9%, to finish at 24,597.37, its best daily gain in six weeks. The S&P 500 /zigman2/quotes/210599714/realtime SPX +0.45%   rose 90.21 points, or 3.2%, to end at 2,953.91. The Nasdaq Composite /zigman2/quotes/210598365/realtime COMP 0.00%   added 220.27 points, or 2.4%, closing at 9,234.83.

“Optimism around economies reopening and a coronavirus vaccine is driving higher equities, oil prices, and weaker USD,” Stephen Innes, chief global markets strategist at AxiCorp, wrote in a note. “Trade tensions remain a critical risk for markets, however,” he wrote, and “caution is warranted with financial markets increasingly decoupling from the real economy.”

West Texas Intermediate crude for June delivery   was last above $32 a barrel. July Brent crude   , the global benchmark, was little changed.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.0140%   was up slightly at 107.40 yen..

/zigman2/quotes/210597971/delayed
JP : Nikkei
22,306.48
+160.52 +0.72%
Volume: 0.00
July 3, 2020 3:15p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
25,373.12
+248.93 +0.99%
Volume: 2.32M
July 3, 2020 4:08p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,152.81
+62.24 +2.01%
Volume: 45.88B
July 3, 2020 3:01p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,041.89
+25.84 +1.28%
Volume: 51.29B
July 3, 2020 3:00p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,152.41
+17.04 +0.80%
Volume: 770,054
July 3, 2020 3:33p
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
11,909.16
+104.02 +0.88%
Volume: 0.00
July 3, 2020 1:33p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,652.94
+16.25 +0.62%
Volume: 0.00
July 3, 2020 5:20p
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/zigman2/quotes/210598052/delayed
MY : Malaysia
1,552.65
+16.37 +1.07%
Volume: 0.00
July 3, 2020 5:05p
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
4,973.79
+7.01 +0.14%
Volume: 0.00
July 3, 2020 3:00p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,057.90
+25.20 +0.42%
Volume: 645,935
July 3, 2020 5:08p
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/zigman2/quotes/209782682/delayed
JP : Japan: Tokyo
¥ 996.60
-0.30 -0.03%
Volume: 3.17M
July 3, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
1.00%
Market Cap
¥917.55 billion
Rev. per Employee
¥64.38M
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/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 5,778.00
+148.00 +2.63%
Volume: 23.89M
July 3, 2020 3:00p
P/E Ratio
38.77
Dividend Yield
0.76%
Market Cap
¥11948.88 billion
Rev. per Employee
¥126.96M
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/zigman2/quotes/206625692/delayed
HK : Hong Kong
HK$ 64.80
+0.15 +0.23%
Volume: 5.59M
July 3, 2020 4:08p
P/E Ratio
N/A
Dividend Yield
4.43%
Market Cap
HK$133.35 billion
Rev. per Employee
HK$11.26M
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/zigman2/quotes/204979431/delayed
HK : Hong Kong
HK$ 2.70
+0.06 +2.27%
Volume: 128.11M
July 3, 2020 4:08p
P/E Ratio
22.44
Dividend Yield
5.87%
Market Cap
HK$841.80 billion
Rev. per Employee
HK$5.32M
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/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
53,600.00
+700.00 +1.32%
Volume: 11.89M
July 3, 2020 3:30p
P/E Ratio
17.10
Dividend Yield
2.64%
Market Cap
₩358573.77 billion
Rev. per Employee
N/A
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/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 36.26
+0.25 +0.69%
Volume: 3.17M
July 3, 2020 4:10p
P/E Ratio
13.57
Dividend Yield
5.88%
Market Cap
$168.88 billion
Rev. per Employee
N/A
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/zigman2/quotes/205619834/composite
US : U.S.: Nasdaq
$ 58.57
-3.02 -4.90%
Volume: 0.00
July 2, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$22.77 billion
Rev. per Employee
$177,721
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
25,827.36
+92.39 +0.36%
Volume: 0.00
July 2, 2020 5:19p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,130.01
+14.15 +0.45%
Volume: 0.00
July 2, 2020 5:19p
loading...
/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
10,207.63
0.00 0.00%
Volume: 0.00
July 2, 2020 5:16p
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
107.5200
+0.0150 +0.0140%
Volume: 0.0000
July 3, 2020 4:59p
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