Following the near-euphoria towards the end of last year, the stock market is now heading towards a correction phase. Jarick Seet, who heads the small and mid-cap research division of RHB Bank, warns that pullbacks will happen again if Covid-19 infections escalate or new strains appear, as seen in several countries which have had to reinstate move- ment restrictions. He adds that a drag may also come if the efficacy of the vaccines turns out to be not as good as has been advertised.

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