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Asian stocks lower after Pfizer cuts vaccine shipment plans

Added 12-04-20 01:03:01am EST - “Asian stock markets followed Wall Street lower Friday after Pfizer Inc. cut the number of doses of a planned coronavirus vaccine it might ship this year.” - Washingtontimes.com

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Posted By TheNewsCommenter: From Washingtontimes.com: “Asian stocks lower after Pfizer cuts vaccine shipment plans”. Below is an excerpt from the article.

BEIJING (AP) - Asian stock markets followed Wall Street lower Friday after Pfizer Inc. cut the number of doses of a planned coronavirus vaccine it might ship this year.

Benchmarks in Shanghai, Tokyo and Hong Kong, which are the bulk of the region’s market value, retreated while Sydney advanced.

Wall Street’s benchmark S&P; 500 index closed 0.1% lower on Thursday, short of a new record, after Pfizer reduced the number of vaccine doses it might ship this year by half to 50 million. The company told The Wall Street Journal testing and setting up a supply chain took longer than expected.

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“Before we can make new gains, there is the usual sentiment tug of war between medium-term optimism and near-term COVID-19 despair,” Stephen Innes of Axi said in a report.

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