Shares were mostly higher in Asia on Wednesday as investors were encouraged by news that an experimental COVID-19 vaccine under development by Moderna and the U.S. National Institutes of Health revved up people's immune systems just as desired.
Tokyo's Nikkei 225 advanced 1.6% to 22,945.50, while the Kospi in South Korea added 0.9% to 2,201.96. In Australia, the S&P/ASX 200 added 1.7% to 6,039.50. Hong Kong's Hang Seng was nearly unchanged at 25,476.31, while the Shanghai Composite Index slipped 0.5% to 3,397.63. Shares were mixed in Southeast Asia and rose in Taiwan.
News about the vaccine came after the end of trading for U.S. markets, where after another day of unsettled trading the S&P 500 rose 1.3% to 3,197.52. The Dow Jones Industrial Average added 2.1% to 26,642.59, lifted by gains for UnitedHealth Group and Caterpillar, among others. On Wall Street, big tech-oriented stocks lagged behind, holding the Nasdaq composite to a more modest gain of 0.9% to 10,488.58.
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