Markets Rally upon vaccine news. However, the rally is mostly sectorial based, with losses seen in some sectors. Some would realise the gain on STI is larger than HSI. This is probably due to the sectorial mix. STI had more beneficiaries of the rally (mainly banks) Key Beneficiaries of the Rally Airlines and Aviation related (E.g SIA and SATS) Banks (E.g OCBC, DBS , UOB) Hotels (E.g City Development, Amara) Tourism (E.g Straco, Genting Singapore) Property (E.g City Development, Frasers Property) Key Losers of the Rally Glove Companies (E.g Top Glove, Riverstone) Healthcare Related (E.g Medtecs, Vicplas Intl) Tech Companies (E.g Tencent) Tech Manufacturing (E.g AEM) Property Management (E.g KWG Living, CC New Life) E-Commerce (E.g Alibaba, JD) Game Companies (E.g IGG) Basically, apart from Property Management, the rest can be classified by Old Economy vs New Economy related. Its quite subjective for Property Management to be classified in either one since it...