Asian Indices Takes Sharp Loss After Statement of Moderna’s CEO

Asia Pacific indices on the loss as investors continued to track development surrounding the omicron variant.

Markets moved to red after Moderna CEO Stephane Bancel in an interview with Financial Times said, he expects current vaccinations to be less effective against the Omicron variants.

His comments also included it could take months to develop and produce reformulated vaccines at scale.

Hong Kong’s Hang Seng Index, Japan’s Nikkei, Mainland China’s CSI300 and South Korea’s KOSPI sharply fell by 2.69%, 1.67%, 0.74% and 2.51% respectively.

The SET is expected to track losses of peers in the opening of the afternoon session.

Overnight Wall Street indices rose on optimism after President Joe Biden said there is no need for lockdown amid Omicron.