World shares resilient, drugmakers hit by Biden’s move on vaccines
- Date: 06-May-2021
- Source: Zawya
- Sector:Financial Markets
- Country:Middle East
World shares resilient, drugmakers hit by Biden’s move on vaccines
But MSCI's index of Asia-Pacific shares outside Japan lost 0.15% as Chinese shares, also resuming trade for the first time since last week, wobbled. The CSI300 fell 1.3%, led by falls in biotech firms.
China's healthcare share index dropped more than 4% after U.S. President Joe Biden threw his support behind waiving intellectual property rights for COVID-19 vaccines.Â
Biden's move hit U.S. vaccine makers, too, including Moderna, but Wall Street was supported overall by gains in energy and other cyclical shares.