新型冠状病毒

Pharma and funeral stocks rally as investors ride China’s Covid exit wave

Chinese breweries and airlines also back in vogue as lockdowns lifted

Stocks of Chinese drugmakers, breweries and funeral services have stormed back into fashion as investors try to profit from a coronavirus exit wave as the world’s most populous country loosens pandemic restrictions.

Over the past week, a clutch of Chinese pharmaceutical companies have been among the top performers on bourses in Hong Kong, Shanghai and Shenzhen.

Amid expectations of booming demand for fever medicine and other drugs, mainland China-listed shares of pharma companies Guangzhou Baiyunshan Pharmaceutical and Hualan Biological Engineering each gained more than 10 per cent over the past five trading days while Shanghai Fosun Pharmaceutical added 7 per cent.

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