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Financial markets reversed on Monday 24 May, 2021 as inflation concerns receded on the back of weaker-than-anticipated economic data. Tech stocks led the way.
Late Stock Surge in May Sets the Stage for June
Source: StockCharts NASDAQ Weekly Performance Metrics
In the stock market bearish trading sessions can wipe out profits in next to no time at all. What took years to build up can be vanquished by negative sentiment within a day. Such was the case for most of May 2021. Successive selloff periods placed heavy pressure on equities during the month, but ultimately the bears were stopped dead in their tracks. On Monday, May 24, 2021, economic data confirmed what many already knew: weaker economic data put the brakes on rising inflation. Once the inflation news permeated the markets, it didn’t take stocks long to react.
Top Story
May 24, 2021
ISLAMABAD: The state-run National Institute of Health has begun the production of a single-dose Chinese coronavirus vaccine believing the initiative will help meet the country s vaccine needs.
The officials told ‘The News’ that a total of 124,000 CanSino jabs had been developed with China’s support and they would be rolled out in local packaging in the current week.
Pakistan was among the first countries to take part in the clinical trial of CanSino vaccine. Its local production comes after the successful clinical trial in the country.
The officials said Chinese firm CanSino Biologics Inc had provided the NIH with the raw material and technology for vaccine production and even sent in experts to oversee the exercise.
Top Story
May 24, 2021
ISLAMABAD: The state-run National Institute of Health has begun the production of a single-dose Chinese coronavirus vaccine believing the initiative will help meet the country s vaccine needs.
The officials told ‘The News’ that a total of 124,000 CanSino jabs had been developed with China’s support and they would be rolled out in local packaging in the current week.
Pakistan was among the first countries to take part in the clinical trial of CanSino vaccine. Its local production comes after the successful clinical trial in the country.
The officials said Chinese firm CanSino Biologics Inc had provided the NIH with the raw material and technology for vaccine production and even sent in experts to oversee the exercise.
NIH set to roll out locally-produced Chinese Covid vaccine thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.
May 23, 2021
ISLAMABAD: In a major achievement, Pakistan has successfully manufactured a COVID vaccine locally at the National Institute of Health (NIH) Islamabad, ARY NEWS reported quoting sources.
According to sources, overall 124,000 doses of single-dose CanSino vaccine were manufactured at the NIH and would be available for use from the next week.
“The vaccine was prepared by Pakistani experts under the supervision of a Chinese team,” they said adding that the second batch of the vaccine will be prepared solely by the Pakistani experts.
The Chinese team, according to sources, assisted them during the manufacturing process with the raw material provided by the Chinese firm CanSino.