On the morning of the 21st, the stock prices of companies related to COVID-19 diagnostic kits are rising consecutively. This is interpreted as buying pressure on related stocks due to a sharp increase in COVID-19 cases recently in the Chinese-speaking regions and Thailand.
As of 9:25 a.m. on the 21st, Sugentech, a company specializing in in vitro diagnostics, is trading at 8,120 won, up 870 won (12%) from the previous trading day on the KOSDAQ market. GREEN Life Science, known as a supplier to Pfizer, is trading at 2,205 won, rising 506 won (29.78%) from the previous day, heading straight to the upper limit in the early session.
Stocks of Lab Genomics (5.79%), Humasis (4.08%), and the global in vitro diagnostic reagent company SD BIOSENSOR (4.41%) are also climbing. The stock of SK bioscience, a vaccine development company, is also strong.
As signs of a resurgence of COVID-19 become clearer in major Asian countries, it is interpreted that stock prices are rising due to expectations of increased demand for related products such as diagnostic kits and vaccines.
Recently, as the number of confirmed COVID-19 cases has surged in China and Hong Kong, new patients are rapidly increasing in Thailand as well. Earlier on the 20th, according to the Bangkok Post, the Thailand Disease Control Department (DDC) reported that there were 30,030 confirmed cases of COVID-19 from May 11 to 17. This figure is more than double the previous week (about 16,000 cases).