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Pfizer’s Covid Pill Is Shaking Up the Asia Recovery Trade

  • Asia-Pacific airline shares jump by most since March
  • Vaccine makers slump, with CanSino Biologics dropping 17%
Bloomberg business news
WATCH: Pfizer says its Covid-19 pill reduces hospitalizations and deaths in high-risk patients by 89%.Source: Bloomberg
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Shares tied to reopening trades from casinos to airlines surged in Asia on Monday after Pfizer Inc. said that its Covid-19 pill could reduce hospitalizations and deaths in high-risk patients by 89%. 

A Bloomberg gauge of Macau casino shares jumped 5.9%, the biggest move in over two months, while an index of Asia-Pacific airline stocks rallied 4.5%, the most since March. Luggage manufacturer Samsonite International SA climbed 14% in Hong Kong.