Tokyo stocks rally on vaccine hopes, China data

TOKYO: Tokyo stocks jumped more than one percent Tuesday after drug maker Moderna said it had filed for US and European approval of its virus vaccine and China announced positive economic data.

The benchmark Nikkei 225 index gained 1.34 percent, or 353.92 points, to 26,787.54, while the broader Topix index rose 0.77 percent, or 13.46 points, to 1,768.38.

"The Nikkei index rose following the filing of approval for a coronavirus vaccine... and was also supported by positive economic indicators in China," Okasan Online Securities said in a commentary.

US firm Moderna reported full results had confirmed a high vaccine efficacy rate, estimated at 94.1 percent and was set to join US giant Pfizer and Germany's BioNTech in applying for approval.

It is hoped the drugs could be available as soon as next week.

Moderna has agreed with the Japanese government to provide more than 40 million shots from early next year through Japan's Takeda Pharmaceutical.

Takeda shares slipped 0.37 percent to 3,731 yen in Tokyo as investors locked in profits following recent gains.

Uniqlo casual wear operator Fast Retailing jumped 1.88 percent to 87,560 yen while SoftBank Group rose 0.38 percent to 7,300 yen.

Sony climbed 0.98 percent to 9,800 yen while Toyota advanced 0.97 percent to 2,899.5 yen.

The dollar fetched 104.35 yen in Asian trade, against 104.28 yen in New York late Monday.