Medical disposals stocks including the glove makers and Medtecs International is surging today, on news of possible new Covid-19 variants from South Africa.
As at Nov 26, Top Glove is up 10.34% to 80 cents; Riverstone up 5.07% to 72.5 cents, UG Healthcare up 15.69% to 29.5 cents.
Medtecs International, which focuses on a broader range of personal protective equipment, is up 22.41% to 35.5 cents.
In contrast, the Straits Times Index is down around 1.6% today.
Having said so, these counters are significantly off their peaks from last year.
In reaction to this possible new variant, Singapore has announced restrictions on arrivals from Botswana, Eswatini, Lesotho, Mozambique, Namibia, South Africa and Zimbabwe for travellers who have been in those countries within the last 14 days.
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The restriction will be in place for all long-term pass holders and short-term visitors starting from Nov 27.
See also: South Africa working at 'lightning speed' on new virus variant
According to health minister Ong Ye Kung, there are no cases, so far, of the called the B.1.1.529 variant.
See also: Covid-19 global health emergency is over after three years: WHO
"But we need to take the necessary precautions to reduce the risks of spread of this new variant, while we find out more about it," he says.
"Once we have more data, we will adjust the measures accordingly," he adds.
