Asia Pacific stocks were mixed on Tuesday morning, giving up some earlier gains after optimism over the latest positive COVID-19 vaccine news fizzled.
Moderna Inc (NASDAQ:MRNA) became the latest pharmaceutical company to report a positive development when t said on Monday that its candidate mRNA-1273 had a 94.5% efficacy rate from the results of a large, late-stage phase III COVE study. The news follows Pfizer Inc's (NYSE:PFE) announcement during the previous week that its candidate, BNT162b, that is being co-developed with Germany’s BioNTech (F:22UAy), prevented more than 90% of symptomatic infections.
Moderna’s news saw the company’s shares climbed up to 15% and helped U.S. shares see record highs over hopes of a quick economic recovery.
Japan’s Nikkei 225 edged up 0.20% by 11:27 PM ET (3:27 AM GMT).
South Korea’s KOSPI edged up 0.14%.
In Australia, the ASX 200 was up 0.33% while Hong Kong’s Hang Seng Index inched down 0.01%.
China’s Shanghai Composite edged down 0.19% and the Shenzhen Component slid 1.22%.
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