By Suzanne Barlyn
Oct 14 (Reuters) – Asian equities were set to slip on Wednesday as halted COVID-19 vaccine trials and an elusive U.S. stimulus agreement weighed on investor sentiment, while the dollar rose from Tuesday’s three-week low as demand firmed for safe-haven assets.
Johnson & Johnson JNJ.N said on Tuesday that it was pausing a COVID-19 vaccine trial due to a study participant’s unexplained illness. Eli Lilly and Co LLY.N later said that it had also paused the clinical trial of its COVID-19 antibody treatment due to a safety concern, leading the U.S. equity market to deepen losses.
J&J shares lost 2.3%, while Eli Lilly closed down nearly 3%.
“That just spoke to the fact that a vaccine could take longer to be delivered than what the market’s expectations are calibrated towards,” said CommSec market analyst Tom Piotrowski in Sydney.
The Australian share market will likely open about