Asian stocks soar as investors react to positive coronavirus vaccine development

Asian stocks were mixed on Tuesday while airline stocks soared as investors in the region reacted to positive developments overnight on the coronavirus vaccine front.

In Japan, the Nikkei 225 rose 0.26% to close at 24,905.59 while the Topix index gained 1.12% to finish its trading day at 1,700.80. Over in South Korea, the Kospi closed 0.23% higher at 2,452.83.

In Southeast Asia, the Straits Times index in Singapore jumped 3.37% in afternoon trade. The SET Composite index in Thailand also jumped more than 4%.

Mainland Chinese stocks were lower on the day: The Shanghai composite dipped 0.4% to about 3,360.15 while the Shenzhen component shed 1.045% to approximately 13,993.34.