Australia: Shares creep higher as tech stocks gain, healthcare stocks sink further

[BENGALURU] Australian shares crept higher on Monday, bolstered by gains in tech stocks after Pfizer's Covid-19 vaccine was authorised in the United States, though healthcare stocks sank further after Australia abruptly stopped production of a homegrown vaccine.

The S&P/ASX 200 index was up 0.14 per cent at 6,651.6 points by 1140 GMT. The benchmark closed lower in the previous session, but posted six straight weeks of gains.

The US Food and Drug Administration granted an emergency use authorisation for Pfizer's coronavirus vaccine, with the first inoculations expected within days.

Among sectors, the top gainers were tech stocks, rising up to 1.5 per cent to a record high. Afterpay and EML Payments were among the top boosts, gaining 4.2 per cent and 1.8 per cent, respectively.

Financials climbed as much as 0.7 per cent, with the so-called "big four" banks adding between 0.5 per cent and 1.5 per cent.

Australia's decision to suddenly halt its Covid-19 vaccine programme on Friday continued to batter healthcare stocks , which fell for a third straight session to their lowest in two months.

Shares of CSL, which was developing the vaccine with the University of Queensland, extended losses to a third day, falling 1.7 per cent.

Energy stocks, down 0.9 per cent, tracked a downturn in oil prices as new coronavirus-related restrictions in New York stoked demand concerns.

Index heavyweights Woodside Petroleum and Santos lost around 1.3 per cent each.

Crown Resorts fell 1.2 per cent after law firm Maurice Blackburn launched a second class-action lawsuit regarding the firm's share price slump in October.

In New Zealand, the benchmark was down 0.2 per cent at 12,890.59 points by 1140 GMT. The stock exchange experienced a brief delay in opening due to connection issues, which were resolved soon.

REUTERS