[Featured Stock] Has Omicron Fear Eased? Diagnostic Kit Stocks Turn Down in One Day

On the 30th, amid ongoing concerns about the COVID-19 Omicron variant, overseas arrivals are waiting at Terminal 1 of Incheon International Airport. Photo by Mun Ho-nam munonam@

[Asia Economy Reporter Minji Lee] Diagnostic kit stocks, which showed strength with the emergence of the COVID-19 variant Omicron, are experiencing a sharp decline after just one day.

At 9:43 AM on the 30th, LabGenomics was trading at 35,250 KRW, down 8.20% from the previous trading day. Seegene was also trading at 71,200 KRW at the same time, down 5.07%. Other companies such as Somagen (-6.25%), Selemix (-6.96%), and JinMatrix (-7.69%) are also continuing their downward trend.

These companies provide diagnostic services and had been undergoing stock price adjustments due to decreased demand following increased vaccination rates and the development of oral treatments. However, last Friday, their stocks surged on expectations that the emergence of Omicron could increase the use of diagnostic kits. On this day, the rise in diagnostic kit stocks related to Omicron was somewhat tempered as the US stock market reflected reduced concerns about the Omicron variant.