A Covid-19 vaccine developed by the University of Oxford and AstraZeneca Plc prevented a majority of people from getting the disease, but fell short of the bar set by Pfizer Inc. and Moderna Inc. The vaccine stopped an average of 70% of participants in a study from falling ill, an early analysis of the data show. China reported sporadic local cases in Tianjin, Shanghai and Inner Mongolia, raising concerns that the virus is popping up again in the world’s second-largest economy. Hong Kong and Singapore scrapped a planned travel bubble after cases spiked in Hong Kong.
The euro area is slipping into another contraction amid new virus restrictions that are taking a massive toll on parts of the economy. Vaccinations against Covid-19 in the U.S. will “hopefully” start in less than three weeks, according to the head of the federal government’s program to accelerate a vaccine.
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Poland’s Contagion Eases (5:42 p.m. HK)
Poland registered 15,002 new coronavirus cases in the last 24 hours, the lowest daily increase in a month, taking the total number of infections to 876,333, the Health Ministry said on Twitter.
Lockdowns Push EU Economy Into Contraction (5:00 p.m. HK)
IHS Markit’s eurozone composite Purchasing Managers’ Index fell to 45.1 in November from 50 in October, hinting at declining output, according to data published Monday. The drop was led by services, reflecting the closure of bars and restaurants and the loss of business in the hospitality sector in the euro area. Manufacturing continued to grow, although at a slower pace.