The encouraging study results on a corona vaccine also give Asian investors a sigh of relief. However, the same euphoria did not spread in the Far East on Tuesday as in Europe and the USA. In Tokyo went the 225 values comprehensive Nikkei 0.3 percent firmer from trading at 24,905.59 points, after having temporarily gained 1.1 percent in the course of trading. Stockbrokers pointed out that the vaccine candidate from Biontech and Pfizer was shown to be effective in the study, but that it would still take longer for the drug to be approved and, above all, to be produced and administered in sufficient quantities.
“The market is looking forward to a sustainable solution to the pandemic and that’s why we had such a sharp price reaction,” said Tai Hui, chief strategist for Asia at JP Morgan Asset Management. However, further tests are necessary, the approval process takes, as well as production and distribution. “This means that the vaccine, even if it is really effective, is months away from mass use.”
In China, on the other hand, prices fell. Analysts pointed out that the barometers are heavily dependent on the price development of tech stocks. These were among the beneficiaries of the Corona crisis because consumers are dependent on digital service providers in times of exit restrictions and quarantine. If the restrictions are lifted, that should change a little. In contrast, airlines, hotels and other travel items were particularly popular in the Far East. “No surprise, but we’re seeing a rotation … what was bought in the past eight months is now being sold and vice versa,” said Citigroup expert Elizabeth Tian.