Wuhan virus puts medical plays in spotlight
Investors are buying up medical-related stocks as regional benchmarks recover from Tuesday's sell-off; STI closes 6.76 points up at 3,253.93
WITH the outbreak of the Wuhan coronavirus evoking memories of 2003's Sars epidemic, investors are looking to pick Singapore-listed medical plays as regional benchmarks recovered from Tuesday's sell-off.
Three of them - pennies Medtecs International, AsiaMedic Limited and Healthway Medical - accounted for close to a fifth of Wednesday's trading volume of two billion securities or 70 per cent above the 2019 daily average. Total turnover was S$1.09 billion, in line with last year's daily average.
Medtecs was the bourse's most active counter, adding 0.6 Singapore cent or 6.5 per cent to 9.8 Singapore cents on 166.6 million shares traded. The provider of healthcare products and hospital services has surged 88 per cent from Jan 20's close of 5.2 Singapore cent…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Global equity funds see surge in outflows as rate cut hopes fade
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece
Global wave of consultancy layoffs has not hit Singapore
P&G raises annual core profit forecast on resilient demand, price hikes
American Express beats profit estimates on strong spending by wealthy customers
Sheng Siong shareholders press for details on capital allocation, M&A opportunities