Asian stocks falter as vaccine tests are undermined
Asian shares did not manage to confidently develop their earlier gains on May 20. Meanwhile, gold bonds edged higher, following a more sceptical outlook on the coronavirus vaccine.
MSCI’s Asia-Pacific index remained mostly flat. The vulnerable Aussie stepped back from its highest position in two months. US Treasury yields lost 0.7%.
European trading was underwhelming as well. Both EuroSTOXX 50 and FTSE both lost 0.3%. S&P 500 futures gained 0.6%.
The optimism on the market has been cut short by the report on the coronavirus vaccine, published on the healthcare news media STAT. The report claims, that the results of the first test are not detailed enough and are not adequate proof of vaccine efficiency.
Analysts claim, that the stock market is mostly bearish at the moment. The investors remain directionless and are waiting for more news and reports to reinforce their confidence.