COVID-19 Vaccination and Fear Indices Impacting on Healthcare Stock Indices Price in Southeast Asia during the Vaccination Rollout

This research aims to investigate the impact of COVID-19 vaccinations and fear indices on healthcare stock index prices in Southeast Asia during vaccination rollout. The authors analyzed four Asian countries (i. e., Indonesia, Malaysia, Singapore, Thailand) period rollout by using daily weekday data from 1 March 19 November 2021, with a total 760 observations. utilized Feasible Generalized Least Squares (FGLS) for main methodology incorporated Method Moments (GMM) as robustness check. discovered three findings, including: (1) Increased number people exploring news around vaccine doses created positive sentiments, while hesitancy revealed opposite result; (2) Healthcare was found be defensive sector later pandemic; (3) Many new investors arose pandemic, it led herding behavior thus, investors’ decision-making based sentiment. It concludes that dose can manage portfolio investment sector. government should disseminate more about citizens prevent hesitancy. Investors could consider including their portfolios minimize risk pandemic. Citizens’ wise usage social media cooperation are needed end