Data Error in the Potency of Coronavirus Vaccine Showed Decline in Asian Stock Market

Story Highlights
  • Asian Market declined due to a question arising about the effectiveness of Coronavirus Vaccine
  • Investors are looking for the vaccine to control Coronavirus to control the deepest slum on the stock market since 1930
  • The disease has killed more than 1.4 million people worldwide, and there are 61 million confirmed cases

Share market: Asian stock markets declined on Friday as questions arose about the effectiveness of one possible Coronavirus vaccine weighed on investor optimism. Benchmarks in Tokyo, Hong Kong, Seoul, and Sydney retreated while Shanghai gained.

Investors have been encouraged by reports of progress towards a possible vaccine. But they were agitated after researchers asked for the data that showed the vaccine is 70 percent effective, according to a candidate from the University of Oxford and AstraZeneca. 

Those hopes shrank this week when researchers asked Oxford and AstraZeneca how they have calculated the efficacy of their vaccine. That alliance is among researchers who have reported the most progress towards a possible vaccine. The AstraZeneca CEO stated that the company might have to undergo another trial.

Markets are uneasy about US data showing consumer spending weakening and the rise in job losses. In energy markets, benchmark US crude lost 67 cents to $45.04 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude used to price international oils, lost 11 cents to $47.90 per barrel in London. The dollar fell to 104.07 yen from Thursday’s 104.25 yen. The euro rose to $1.1920 from $1.1906.  

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