Stanley WhiteReuters - Asia share indexes were stalled near records Friday as market participants considered new doubts about a highly anticipated coronavirus vaccine against hopes that some of the region's economies will recovery quicker than their Western peers.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.11% but remained with striking distance of a peak touched this week. Australia shares were down 0.56%. Japan's Nikkei fell 0.12%.
Shares in China rose 0.37% after data showed China industrial profits hit a nine-year high. South Korea stocks rose 0.05%.
U.S. S&P 500 e-mini stock futures fell 0.29% in Asia trade. U.S. financial markets were closed Thursday for the Thanksgiving holiday and will trade on a partial schedule later Friday.
British drugmaker AstraZeneca's coronavirus drug was touted as a "vaccine for the world" owing to its inexpensive cost, but the efficacy of the vaccine is now facing more intense scrutiny, which experts say could delay its approval.
Several scientists have raised doubts about the robustness of results showing the shot was 90% effective in a sub-group of trial participants who, by error initially, received a half dose followed by a full dose.
"With global case numbers having now topped 60 million...there is certainly some rough terrain ahead for the global recovery, and that can create economic scarring," analysts at ANZ Bank wrote in a memo.
MSCI's broadest gauge of world stocks was up 0.02% Friday in Asia, sitting just below a record reached in the previous session.
Doubts about the distribution of a coronavirus vaccine have placed renewed focus on the current state of the pandemic, which looks grim for many places.
U.S. hospitalizations for COVID-19 are at a record and experts warn that Thanksgiving might lead to further infections and deaths.
More than 20 million people across England will be forced into the toughest restrictions even after a national lockdown ends Dec. 2. Partial lockdowns in some Europe countries have raised concern about economic growth.
The European Central Bank's chief economist highlighted these concerns in comments Thursday, which pushed European bond yields lower.
The euro, which last bought $1.1911, showed little reaction because currency traders have largely priced in expectations for additional ECB easing next month.
The dollar index was near its lowest in more than two months, but moves were subdued because of the U.S. trading holiday.
The yield on benchmark 10-year Treasury notes fell to 0.8553% as some market participants sought the safety of holding government debt.
U.S. crude dipped 1.4% to $45.07 a barrel. However, Brent crude rose 0.35% to $47.79 per barrel.
Fuel demand is falling as a result of renewed coronavirus lockdowns but some oil producers aren't complying with agreed production cuts - which raises concerns about oversupply.
Spot gold, which is often sought during times of uncertainty, was little changed at $1,809.60 per ounce following a 0.3% gain Thursday.
Bitcoin, the world's biggest cryptocurrency, edged up to $17,264 Thursday but it fell 8.4% in the previous session after failing to take out its record of $19,666. Bitcoin has rallied around 140% this year, fueled by demand for riskier assets.
