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FX.co ★ APX and Europe stock exchanges soared amid news of vaccine against COVID-19

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Analysis News:::2020-11-10T13:11:31

APX and Europe stock exchanges soared amid news of vaccine against COVID-19

APX and Europe stock exchanges soared amid news of vaccine against COVID-19

Asia-Pacific Stock Exchanges (APX) traded in a positive mood Tuesday morning. The major stock indexes mostly exhibited positive dynamics, which is a response to the growing securities market in Europe and the US. Global stock markets were covered by a wave of optimism about the successful trials of a vaccine against coronavirus infection, which was actively developed by two leading companies: American Pfizer and German BioNTech.

The said drug against COVID-19 has demonstrated a high degree of effectiveness in the fight against infection, which is almost 90%. Of course, such news could not go unnoticed by investors, for whom the rapid spread of coronavirus in the world is a sore topic.

Japan's Nikkei 225 Index rose 0.45%. It is especially significant that it has been growing for the fifth trading session in a row, which is a good sign.

China's Shanghai Composite index, on the contrary, declined by 0.4% and was the only one that did not support the positive dynamics of recent days. The Hong Kong Hang Seng index did not share the negative trend and went up by 0.35%.

According to the latest statistics, the rate of inflation in China has decreased to the minimum rate that was last recorded eleven years ago. The main reason for this is the reduction in the cost of certain types of food in the country, in particular the price of pork.

The level of consumer prices for the second month of autumn this year was higher by 0.5% on an annualized basis. Recall that earlier it rose immediately by 1.7%. At the same time, the preliminary forecasts of experts were slightly worse than the real figures: growth was expected in the region of 0.8%.

The level of producer prices for the second month of autumn showed a negative trend, which was recorded for the ninth month in a row. This time, the reduction was 2.1% per year. This is exactly the same as in the previous month. At the same time, analysts did not expect figures above 2%.

South Korea's KOSPI is up 0.19%.

Australia's S&P/ASX 200 index jumped 0.66%. This is the fourth consecutive auction when its growth is noted. Moreover, the indicator has been able to strengthen to its maximum values over the past eight months.

Major stock indexes in the European stock market also exhibited strong growth on Tuesday. Recall that Monday's trading session ended with a high jump. Such a significant stir was caused, first, by the results of the US presidential election and the victory of Joe Biden, and secondly, by news about the coronavirus vaccine.

In Europe, the situation with the spread of COVID-19 is especially serious, so the announcement that a potential vaccine has successfully passed the main clinical trials and has demonstrated high efficiency caused an unprecedented positive among traders. And the news that the US Food and Drug Administration intends to speed up the approval process for the vaccine in order to make it available to the public as soon as possible gives hope that the pandemic will be dealt with in the near future.

However, seasoned analysts warn that it is better to avoid unnecessary hype for now, as there are still too many open questions.

The general index of large enterprises in the European region STOXX Europe 600 increased by 0.51% and moved to the level of 382.95 points.

The UK FTSE 100 Index gained 1.24%. The German DAX Index advanced 0.03%. France's CAC 40 index jumped 1.37% at once. Italy's FTSE MIB Index rose 0.66%. Spain's IBEX 35 index has become the leader of the upswing with an increase of 2.55%.

Analyst InstaForex
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