Stocks in Asia Pacific were set to rise at the open on Thursday following positive news overnight around the development of a potential coronavirus vaccine.
Futures pointed to a higher open for Japanese stocks. The Nikkei futures contract in Chicago was at 22,250 while its counterpart in Osaka was at 22,200. That compared against the Nikkei 225’s last close at 22,121.73.
Meanwhile, shares in Australia looked set for a positive start as well. The SPI futures contract was at 5,945, as compared to the S&P/ASX 200’s last close at 5,934.40.
Investors will watch for overnight reaction to a study of a coronavirus candidate being developed by Pfizer and BioNTech that showed the drug created neutralizing antibodies. The results, which were posted online, have yet to be reviewed by a medical journal.
“We are cautious,” Joseph Capurso, head of international economics at Commonwealth Bank of Australia, wrote in a note. “We