Zeng Yuancang ｜ Finance ｜ Daily News ｜ f002 Zeng Yuancang Column ｜ Column ｜ Column ｜ 20201111

Pfizer Pharmaceuticals (PFE.US) announced that the third phase of clinical trials of the new coronary pneumonia vaccine developed by the United States has achieved satisfactory results. The news caused a strong polarized reaction in Hong Kong stocks yesterday.

Did the new economic stocks run out with the advent of vaccines? When will old economic stocks make up for lost ground?

From effective clinical trials of vaccines to mass production of vaccines, I believe it will take a long time for the global epidemic to be fully controlled. In this world, there are many very poor countries that don’t have the money to buy vaccines. Epidemics in these poor countries are not monitored every day. It is still difficult to fully open the borders of rich countries, and only two countries or regions can engage in tourism bubbles.

As for tourism bubbles, what Hong Kong needs most is the mainland China market. Once Hong Kong opens its borders with the mainland, even if it only opens the Greater Bay Area, Hong Kong’s tourism industry will reap the greatest benefits. Yesterday, taking advantage of Pfizer’s vaccine good news, Wharf Properties (1997), which was most affected by the tourism industry, gained 13.93%. Interestingly, the increase has not yet been the first among the constituent stocks of the HSI. The first was CNOOC (883). ), the epidemic is under control, the global economy is revitalized, the demand for oil will increase and oil stocks that have been left behind for a long time will be speculated.

HSBC (005) also grew well, reaching 8.18%; Standard Chartered (2888) was even better, reaching 10.53%. Shareholders rekindled that the UK government has approved dividend redistribution by UK registered banks due to outbreak control.Once HSBC resumes its 4 yuan annual dividend, the current share price could still have room for increase.

A comprehensive comparison of all sectors shows that air travel stocks performed best yesterday. BOC Aviation (2588) grew 21% in one fell swoop; Cathay Pacific (293) increased by 14.1%; NWS Holdings (659) also benefited indirectly, up 5.5%.

If Hong Kong and the mainland open their borders, Macau must also open at the same time. Therefore, with Pfizer’s good news, Macau’s gambling industry shares also rose across the board yesterday. Also, medical beauty stocks like Yisi (2138) and insurance stocks like AIA (1299)), Manulife (945) has a lot to do with opening up tourism.

Zeng Yuancang

Financial commentator