Covid on the run
Resurgence hastens vaccination; healthcare in focus, reopening later
Covid-19 first reared its ugly head in early 2020 and became prevalent in Asean
from March 2020. While there was hope of reopening plays as vaccination
programmes took off, the situation still seems dire as Covid cases re-escalated in recent weeks. Lockdowns have resumed but at a looser pace than a year ago.
Vaccination programmes are nevertheless being rolled out as quickly as possible with Singapore having the highest percentage of its population vaccinated. In the current situation, healthcare themes would be in focus. Reopening plays would resurface as we approach 2022 assuming Covid-19 is tamed. Our Asean picks for 2H21 are Semen Indonesia, IHH, Ayala Corp, Raffles, and Bangkok Dusit.