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