Forex Marketz Daily Forex News – Fully Markets Update
The Asian and Pacific Rim was mostly higher by the late morning on Tuesday. Traders are monitoring positive Covid-19 (coronavirus) vaccine news which is boosting sentiment and at-risk assets like equities.
In Japan, the Asian benchmark the Nikkei 225 was up 0.39 percent and the shares on the broader Topix index, in Tokyo, rose 0.27 percent. Shares of Fujifilm rose better than four percent after news that U.S. President Donald Trump announced they were awarding the company a a $265 million contract for coronavirus vaccine manufacturing.
The South Korean Kospi composite index led the Asian and Pacific Rim as shares gained 1.92 percent. Shares of Samsung Electronics popped over five percent in the morning.
In Australia, the headline ASX 200 was up 0.95 percent and in Hong Kong, the Hang Seng index was up 0.97 percent.
In China, the Shanghai composite is up half a percent and the Shenzhen component is trading up by 1.166 percent by the late morning.
Asian Traders continue to Monitor Covid-19 Headlines
The coronavirus is still a factor with financial market sentiment. Yesterday, U.S. Senate Majority Leader Mitch McConnell on Monday unveiled the GOP coronavirus stimulus bill.
The GOP bill provides basic relief for unemployed Americans as well as other provisions to support the economy. The United States currently leads the world with the number of coronavirus infections and deaths around the world.
Traders Monitor Covid-19 Vaccine Developments
There are positive developments with a possible coronavirus vaccine. The end result is still sometime away, however. Several bio-tech firms are reporting that they have started late-stage human trials as the race to find a cure is heating up.
U.S. drug maker Pfizer and German biotech firm BioNTech have said that they are now starting their stage three trials with human testing. They announced this overnight. Other companies in England and the U.S. firm Moderna are also reporting positive results with testing.
