Asian stocks mixed as Moderna vaccine results dampens risk sentiment

Asian stocks were mixed earlier on Wednesday, giving up its gains made on the previous day.

Market sentiment remained so after several vaccine experts reported that U.S. biotech firm Moderna had not provided sufficient information on the efficacy of its potential COVID-19 vaccine.

Stocks saw a boost on Tuesday after Moderna revealed on Monday that its newly-developed COVID-19 vaccine had generated an immune response in all of its 45 participants. However, market sentiment dampened after several vaccine experts said that the U.S. biotech firm did not provide sufficient information on the efficacy of the vaccine.

China’s Shanghai Composite lost 0.45%, while the Shenzhen Component fell by 0.37% at 11:37 PM ET (4:37 AM GMT) amid rising U.S.-China tensions.

Hong Kong’s Hang Seng Index dropped by 0.12%, losing gains from an earlier session, while Japan’s Nikkei rose by 0.96%.

South Korea’s KOSPI climbed by 0.21%, even as the country saw a reemergence of new COVID-19 cases originating from Seoul’s Itaewon district.

Down under, Australia’s ASX200 gained 0.6%, slowly claiming back losses from the previous session.