COVID-19 update: much faster vaccination progress
in recent weeks
■ Thanks to various incentives offered by the private sector, vaccination progress improved significantly in the past few weeks.
■ About 1.77m people in Hong Kong had received the first dose of COVID-19 vaccine as at 14 June, about 28% of the eligible population, a marked improvement from 19% about a month ago.
■ If this run rate continues, it will take three more months for about 70% of the eligible population to receive their first vaccine dose.
■ Leading Hong Kong property plays outperformed YTD, and we expect them to
continue to perform well on the back of faster vaccination progress.
■ Investors may also put late-cycle recovery stocks such as Guangshen Railway back on their radar, in our view. Macau plays also deserve a revisit after profit-taking in the past few months.