Market reaction to overnight developments on the ongoing coronavirus outbreak will be watched, following reports of breakthroughs in the development of treatments for the disease.
soared to a record high overnight on Wall Street.
Futures pointed to a higher open for Japanese stocks. The Nikkei futures contract in Chicago was at 23,695 while its counterpart in Osaka was at 23,690. That compared against the Nikkei 225's last close at 23,319.56.gained around 0.9%. Investors will await the release of Australia's retail sales data for December, expected to be out around 8:30 a.m. HK/SIN.
Market reaction to overnight developments on the coronavirus outbreak will be watched, following unconfirmed reports of breakthroughs in the development of a drug for the disease. Reuters cited Chinese media on Wednesday that a research team at Zhejiang University had found a drug to treat people infected by the new coronavirus. The World Health Organization, however, said in a statement: "There are no known effective therapeutics against this 2019-nCoV."told Sky News on Wednesday
that his team had made a "significant breakthrough" by cutting a portion of the normal development time to 14 days from two to three years.
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