BREAKING: Asian Stocks Down Over Waning COVID-19 Vaccine Optimism

Photo: Reuters

Investing.com – Asia Pacific stocks were mostly down on Friday morning, ending the week on a cautious note as investors digested valuations from a record rally in global stocks earlier in the week and a stubborn second wave of COVID-19 cases in the U.S. and Europe.

Japan’s Nikkei 225 inched down 0.07% by 10:49 PM ET (2:49 AM GMT).

South Korea’s KOSPI inched down 0.06% as the country reported 583 daily cases on Thursday, the first time the number has exceeded 500 since early March.

In Australia, the ASX 200 was down 0.63%.

China’s Ministry of Commerce said in a statement released earlier in the day that China will impose temporary anti-dumping measures on wine imported from Australia starting Nov 28.

Hong Kong’s Hang Seng Index edged down 0.15%.

China’s Shanghai Composite was up 0.41% while the Shenzhen Component was up 0.38%.

Data released earlier in the day showed that the Chinese Industrial Profit (CIP) rose 28.20% year-on-year in October, against September’s 10.10% growth.

Global shares continued a pullback from the rally earlier in the week, with AstraZeneca PLC likely to put its COVID-19 vaccine candidate AZD 1222 though an additional global trial in order to clear confusion surrounding the positive results from the current study announced earlier in the week, Chief Executive Officer Pascal Soriot said.

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