A technician with pharmaceutical company BioNTec at a laboratory in Mainz, Germany. News that Pfizer and BioNTech have developed an effective Covid-19 vaccine has heartened markets and started a shift in stocks towards sectors that have struggled during the pandemic. Photo: EPA-EFE A technician with pharmaceutical company BioNTec at a laboratory in Mainz, Germany. News that Pfizer and BioNTech have developed an effective Covid-19 vaccine has heartened markets and started a shift in stocks towards sectors that have struggled during the pandemic. Photo: EPA-EFE
A technician with pharmaceutical company BioNTec at a laboratory in Mainz, Germany. News that Pfizer and BioNTech have developed an effective Covid-19 vaccine has heartened markets and started a shift in stocks towards sectors that have struggled during the pandemic. Photo: EPA-EFE
Chaoping Zhu
Opinion

Opinion

Macroscope by Chaoping Zhu

Coronavirus vaccine hope signals shift from tech stocks towards market laggards

  • Investors have awaited news of a vaccine breakthrough that will kick off a rotation in equity markets, meaning different stocks will come into favour
  • Sectors such as travel, retail, energy and financials that have struggled in the pandemic are expected to rebound while demand for tech stocks wanes

A technician with pharmaceutical company BioNTec at a laboratory in Mainz, Germany. News that Pfizer and BioNTech have developed an effective Covid-19 vaccine has heartened markets and started a shift in stocks towards sectors that have struggled during the pandemic. Photo: EPA-EFE A technician with pharmaceutical company BioNTec at a laboratory in Mainz, Germany. News that Pfizer and BioNTech have developed an effective Covid-19 vaccine has heartened markets and started a shift in stocks towards sectors that have struggled during the pandemic. Photo: EPA-EFE
A technician with pharmaceutical company BioNTec at a laboratory in Mainz, Germany. News that Pfizer and BioNTech have developed an effective Covid-19 vaccine has heartened markets and started a shift in stocks towards sectors that have struggled during the pandemic. Photo: EPA-EFE
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