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9/23, 12:43 PM (Source: TeleTrader)
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UBS: Vaccine approval in Q4 to shift stock markets

Swiss investment bank UBS Group AG estimated on Wednesday that between one and three coronavirus vaccines would be approved in the final quarter of the year, adding that mass inoculation is expected to begin by the middle of 2021.

Additionally, UBS claimed the vaccine approval would spark a rotation on the stock markets, with investors shifting away from tech giants. Emerging markets such as Latin America are seen as a preferable investment, according to the Swiss bank.

Russia is currently the only country in the world that has approved a COVID-19 vaccine despite the lack of a mass testing trial. In the West, the company closest to developing a vaccine is British AstraZeneca that is conducting joint research with Oxford University.

Breaking the News / ND