Asian foreign exchange, stocks get vaccine boost as rebound hopes bloom BENGALURU (Dec 3): Emerging Asian currencies and stocks broadly firmed on Thursday, as news that Britain would start vaccinating citizens against the coronavirus next week fanned hopes of a swift global economic rebound next year as the pandemic subsides. Signs of progress in U.S. stimulus talks overnight also supported risk appetite and investors shunned the U.S. dollar in favour of currencies with higher yields and other emerging market assets. Britain on Wednesday became the first western country to approve Pfizer Inc's COVID-19 vaccine, with its chief executive confident that vaccine supply would outpace demand by the end of 2021. "Vaccines have provided a shot in the arm for sentiment thanks to the improving likelihood of a faster and more robust growth recovery," Societe Generale analysts said in a report. Malaysian stocks jumped 0.9% to lead gains in Southeast Asia, while shares in South Korea and Singapore also rose. Indonesian stocks hit a more than nine-month high, but later gave up gains to trade lower after the country's president said he hoped the central bank would take on "a more significant role" in upcoming reforms. Proposals made in recent months to expand Bank Indonesia's mandate have irked investors and analysts and raised doubts about the central bank's independence. Most regional currencies traded higher as the dollar continued to plumb a near two-and-a-half year low. The greenback has been sold-off since last month as market participants pile into riskier holdings amid positive vaccine news and hopes of further stimulus support, and analysts at Goldman Sachs contend this trend may continue. "An integral part of our negative dollar outlook for 2021 is that vaccine development and distribution will lead to coordinated global growth, helping to catalyze portfolio outflows from the U.S. into other markets," they said. "Portfolio flows to more pro-growth sectors, particularly in China and other emerging markets, are likely a key factor behind the dollar's recent depreciation, and we expect that to continue." Philippine stocks added 0.6% after data showed the country's unemployment rate eased in October as coronavirus curbs were gradually lifted, while Thai shares <.SETI > bounced 0.4%. Thai officials on Wednesday announced plans for 43.5 billion baht ($1.44 billion) of additional stimulus to try to boost domestic consumption and revive the tourism-reliant economy, even as global infections continue to rise. Thailand also faces risk from continued political uncertainty and anti-government protests, which have been raging for months. "The protests do not bode well for an already-contracting economy. We see political tensions mounting and lasting into 2021, with no clear solution in sight at this juncture," said Tim Leelahaphan, an economist at Standard Chartered.
Fact box: When and which Covid-19 vaccines are likely to be available in Asia
BEIJING/TOKYO/SEOUL/MANILA/TAIPEI/JAKARTA/DHAKA/HANOI (Dec 11): Trial data from Pfizer Inc with partner BioNTech SE, Moderna Inc and AstraZeneca Plc has shown their experimental vaccines are effective in preventing novel coronavirus infection. While regulatory processes are underway, few Asian countries expect to receive significant amounts of the vaccines initially. Here are estimated distribution time lines, supply deals announced and clinical trials being held in the region.
Australia The country has secured around 140 million doses: 53.8 million from AstraZeneca, 51 million from Novavax Inc, 10 million from Pfizer, and 25.5 million from distribution programme COVAX. It expects delivery of 3.8 million doses of AstraZeneca's vaccine in January and February next year and plans to begin inoculations in March.
China China has not announced supply deals with Western drugmakers, which instead have partnered with private companies in the country.AstraZeneca's vaccine may be approved in China by mid-2021 and its Chinese partner Shenzhen Kangtai Biological Products Co Ltd plans annual production capacity of at least 100 million doses by the end of this year. For the Pfizer/BioNTech vaccine, a unit of Shanghai Fosun Pharmaceutical Group Co Ltd plans a Phase II trial. Tibet Rhodiola Pharmaceutical Holding Co is bringing in Russian vaccine candidate Sputnik V and plans early and mid-stage trials in China. China has also approved three vaccine candidates developed by Sinovac Biotech Ltd and state-owned China National Pharmaceutical Group (Sinopharm) for emergency use, and Sinopharm hopes its two candidates will get conditional approval for general use this year.
Japan Japan has deals to buy 120 million doses from Pfizer/BioNTech in the first half of next year and 120 million from AstraZeneca - the first 30 million of which will be shipped by March 2021 - and 250 million from Novavax. It is also in talks with Johnson & Johnson and has a deal with Shionogi & Co Ltd. Experts said vaccine makers would need to conduct at least Phase I and II trials in Japan before seeking approval for use.
South Korea The country has deals to buy 20 million doses each from AstraZeneca, Pfizer and Moderna and another 4 million doses from Johnson & Johnson's Janssen, enough to cover up to 34 million people.It will procure additional doses for 10 million people through COVAX.Inoculation is likely to start in the second quarter of next year to allow time to observe possible side effects.
India The head of the Serum Institute of India, which makes the AstraZeneca vaccine, said on Nov. 23 the positive late-state trial result of the candidate will allow it to seek emergency use approval by year-end, before securing approval for full introduction by February or March. India also expects a government-backed vaccine to be launched as early as February. It is also conducting a late-stage trial of Sputnik V.
Taiwan Taiwan aims to secure around 15 million doses initially, both via the COVAX scheme and by direct purchases from manufacturers, and may buy an additional 15 million doses. The government has said it hopes to begin vaccinations in the first quarter next year.
Malaysia The Southeast Asian nation has agreed to buy 12.8 million doses of the Pfizer vaccine, becoming the first country in the region to announce a deal with the U.S. drugmaker after some expressed reservations over the need for the ultra-cold storage that the vaccine requires. Pfizer will deliver the first batch of 1 million doses in the first quarter of next year.
The Philippines The archipelago announced a deal on Nov. 27 for 2.6 million doses of the AstraZeneca vaccine and is discussing a possible 1 million more, covering about 1% of a population of 108 million people.It is also seeking 20 million to 50 million doses from Sinovac and is in talks with others, including Pfizer.Vaccine makers can seek approval from Philippine regulators even if no clinical trial is conducted in the country.
Indonesia Southeast Asia's most populous country has secured 125.5 million doses from Sinovac, 30 million from Novavax, is in talks with AstraZeneca and Pfizer to buy 50 million doses each, and expects to get 16 million from COVAX.Indonesia is testing Sinovac's vaccine and preparing mass vaccination for medical staff and other frontline workers to start as soon as late January.
Vietnam A government official said COVAX vaccines would cover only 20% of the population and the country is likely to have a chance to secure separate deals soon, as demand is very high.
Bangladesh Bangladesh signed a deal with India's Serum Institute to buy 30 million doses of the AstraZeneca vaccine.It also expects to receive 68 million doses from global vaccine alliance GAVI at a subsidised rate, a senior health ministry official said.
If Neogenix can provide more than extraordinary profit during this pandemic, why would the selling shareholder,Neoh Cheu An want to give up his 60% stakes for RM6.5 million to Hong Seng. Something fishy here.
This means while other vaccine players like solutn, bintai, inix all fighting for 10-20% vaccination share (federal government procuring for 80% + state governments) for latter stage, hong seng will get to participate in stage 1 through their subsidiary emedasia that is jointly owned by MMA (central body for clinics)!!! Something is brewing, mark my words.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
echoo333
21 posts
Posted by echoo333 > 2020-11-28 18:01 | Report Abuse
Good QR, Monday move up.....