Asian markets mostly rise on coronavirus vaccine hopes

Markets in Asia Pacific are cautiously rising as promising news about Pfizer’s Covid-19 vaccine boosted hopes for the post-pandemic global recovery.

Japan’s Nikkei 225 advanced 1.1%, while Hong Kong’s Hang Seng Index gained 0.8%. China’s Shanghai Composite inched up 0.1%.

South Korea’s Kospi, though, was flat.

The moves come after the Dow on Monday finished up nearly 3%, or 835 points, while the broader S&P 500 finished up 1.2%. The Nasdaq Composite lagged behind, closing down 1.5%.

US future traded lower after hours. Dow futures were down 143 points, or 0.5%, S&P 500 futures were also down 0.5% and Nasdaq futures lost 0.4%.

Stocks soared Monday as drugmaker Pfizer announced that an early look at data from its Covid-19 vaccine, made with German partner BioNTech, shows that is 90% effective. Investors also reacted positively to greater political certainty following Joe Biden’s victory in the US presidential election.

The Shanghai-based Fosun Pharma, which has an agreement with BioNTech to distribute coronavirus vaccines, jumped 13% in Hong Kong. The stock also advanced 10% in Shanghai, the daily maximum allowable limit there.

Billionaire founder Guo Guangchang praised the positive vaccine news Monday night on the Chinese social media website Weibo, calling it a “victory for science and a victory for global cooperation.”

Guo added that he hopes a vaccine can be launched in China as soon as possible, and said Fosun will continue to talk to Chinese regulators.

— CNN’s Nadia Kounang and Anneken Tappe contributed to this report.