The Strategist

Pfizer's coronavirus pill boosts airlines and casinos papers

11/09/2021 - 10:38

After the pharmaceutical giant Pfizer announced a pill for the coronavirus, shares of Asian casinos and airlines have risen sharply, writes Bloomberg.

Pfizer announced creation of a pill against the coronavirus. According to the manufacturer the medication can reduce the number of hospitalizations and deaths among patients by 89%.

In particular, casino papers in Macau rose 5.9% in trading, the biggest increase in two months.

Suitcase and travel bag maker Samsonite gained 14% and US airlines Delta Air Lines, United Airlines and Southwest Airlines gained 8.05%, 7.26% and 6.44% respectively. 

Although Pfizer's pill has not yet gone through the certification process or received approval from US regulators, investors believe the drug will help fight the pandemic and accelerate the return to travel.

As IG Asia Pte's market strategist in Singapore Yeap Jun Rong commented, the new drug "offers some hope that the reopening of the economy will go more smoothly, especially if the pill can reduce the burden on hospitals".