Vaccines not a silver bullet for the market
Despite progress on the vaccination front, stricter social distancing remains the strategy of choice to contain the virus
COVID-19 vaccines will probably not provide the market with the anticipated immunity from the dreaded virus - at least, not if we also continue relying on lockdown-like measures to keep ourselves safe.
On Friday, the benchmark Straits Times Index fell nearly 2.2 per cent after the government unveiled lockdown-like measures to contain a troubling spike in infections.
Among the biggest losers within the benchmark index were Singapore Airlines (down 5.7 per cent), Sats (down 3.9 per cent) and CapitaLand Integrated Commercial Trust (down 3.9 per cent).
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