HK Trading Cancelled, Vaccine Jolt Hits Investors

Stock trading in Hong Kong was cancelled on Tuesday as a typhoon forced the closure of businesses in the SAR, while Shanghai shares gave up early gains as the suspension of a vaccine trial brought more worries to investors.

The benchmark Shanghai Composite Index fell 0.3 percent to 3,350, while the Shenzhen Composite Index edged up 0.2 percent, to 2,294.

Most other Asian markets fell as investors took a breather after the previous day's rally, with the mood dampened by news that a vaccine trial had been halted after a volunteer fell ill.

Tokyo, Shanghai, Seoul, Taipei, Manila and Jakarta were all in the red though Sydney, Singapore and Wellington enjoyed gains.

Worries about the development of a vaccine are playing on investors' minds after Johnson & Johnson said it had temporarily halted its trial after a participant fell sick.

The firm said serious adverse events were "an expected part of any clinical study, especially large studies", adding company guidelines allowed officials to pause a study to determine if the problem was related to the drug in question and whether to resume the study.

The news dealt a blow to hopes for an effective treatment for the disease, which has killed more than a million people, infected tens of millions and plunged the global economy into recession. (AFP)

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