Medical suppliers stocks surge amidst 3.1% STI decline

Four medical suppliers saw an average 48% increase in stocks as markets reacted to the new variant.

The Straits Times Index (STI) has declined by 3.1% from 3,221.52 on 25 November to 3,120.58 on 29 November. The Hang Seng Index has declined 3.6%, and the FTSE ASEAN All-Share Index has declined 2.8%. The uncertainty of the Omicron variant on vaccine efficacy and global containment measures has seen a sharp adjustment to the recent gains of stock sectors, industries, and valuations since Thursday.

At the same time, globally, pharmaceutical, healthcare services, and healthcare products have been the most defensive sectors. In Singapore, Medtecs International, UG Healthcare Corporation, Top Glove Corporation, and Riverstone Holdings comprised four of the five most actively traded stocks over the past two sessions. On 29 November, the four stocks saw close to $170m in shares traded, more than doubling Friday's $77m, and significantly higher than the combined average daily $20m for 2021 before 26 November.

Raffles Medical Group and Q&M Dental also ranked among the most defensive stocks over the past two sessions.

Follow the link for more news on

stock market

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia