Investors snapped up shares of Chinese drugmakers, mask producers, antigen test companies and funeral service providers on Monday, amid fears of soaring mass infections following China's pivot away from strict zero-COVID policies last week.
Expectations are rising that a massive COVID outbreak around the Chinese New Year in late January could increase critical cases and deaths in a country where many old people are not yet vaccinated, leaving the medical system overwhelmed., China's biggest operator of cemeteries and provider of funeral services, rose as much as 7% on Monday to a fresh one-year high.
Listed medical firms are also busy fielding investors' queries about how they are preparing for a potential worsening COVID situation. "Novel coronavirus" was among the most popular terms in questions directed to companies on investor-relations platform., which produces cardiovascular and diagnosis devices, told investors it would adjust production plans to meet market demand for COVID testing.
Easy Diagnosis said on an investor relations platform that it was able to ramp up production quickly, as cancellation of nucleic acid testing in many places would boost demand for antigen testing at home.Read Next / Editor's Picks
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