Asia Stocks Mixed after Vaccine Hopes Lift U.S. Market to a Record High Last Night

Stocks in Asia traded mixed on Tuesday morning after vaccine hopes lifted the U.S. market to a record high last night.

 

As of 9:12 local time in Thailand on Tuesday, Nikkei dropped 0.13%, SSEC dipped 0.24%, HSI rose 0.16%, ASX 200 increased 0.33% and Kospi advanced 0.02%.

 

Last night, Dow Jones rose 470.63 points or 1.6% to close at a record high at 29,950.44 points. Meanwhile, S&P 500 hiked 1.2% and Nasdaq gained 0.8%.

Last night, Moderna, an American biotechnology company, reported that its coronavirus vaccine is 94.5% effective in a large trial, joining Pfizer, who earlier also reported a 90% effectiveness on its vaccines, as top two U.S. coronavirus vaccine producers.

If both vaccines are approved by the FDA, the U.S. would have as many as 60 million doses of vaccine available by December.

 

As for the investment in SET Index, the analyst advised investors to monitor the economic situation to see a potential recovery after the plummet as well as Thailand’s Monetary Policy Meeting on November 18, which is expected to maintain the policy rate. The analyst expected a sideways trend in today’s session, coupled with a slowdown due to political concerns.