Stock markets in Asia yielded to panic and gave up much of their early gains on Tuesday after warnings by Moderna's CEO about the efficacy of vaccines against the omicron variant rattled sentiment.
China's Shanghai Composite Index crept up 1.19 points or less than a tenth of a percent to finish at 3,563.89, as a jump by the manufacturing PMI quelled hopes of policy easing.
The benchmark Japanese Nikkei 225 Index shed 462.16 points or 1.6 percent to end Tuesday's trading at 27,821.76. The slump came as the Japanese yen jumped to the 113 per dollar level amidst safe-haven buying reignited by virus fears.
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Market Analysis
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.