Asian stocks pare gains amid caution about bets on coronavirus vaccine

Asian stocks pared their gains in choppy trade on Thursday as investors awaited further details on whether drugmakers can develop a coronavirus vaccine.

Asian Stocks

  • MSCI’s broadest index of Asia-Pacific shares outside Japan (MIAPJ0000PUS) rose 0.06% to 609.41, which is near its January 2018 high of 617.12.
  • Chinese shares (CSI300) erased early gains and fell 0.02%.
  • Stocks in Japan (N225) hit a 29-year high.
  • Australian stocks (AXJO) fell 0.49% as a decline in copper prices hurt shares in miners. S&P 500 stock futures fell 0.55%.

Currency Markets

In the currency market, the New Zealand dollar soared for a second consecutive session to a 19-month high as investors unwound bets on the introduction of negative interest rates.

Crude Oil

  • Global oil benchmark Brent (LCOc1) rose 0.02% to $43.81 a barrel, which is near a two-month high.
  • U.S. crude futures (CLc1) also gained 0.14% to $41.51 a barrel.
  • Spot gold edged up 0.27% to $1,869.75 an ounce.

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