Dear readers, the US stocks markets recorded one of their most lacklustre performances this year as the Dow, S&P 500 and Nasdaq recorded -2.09%, -1.59% and -1.12%. The performance of the US stocks markets were against the backdrop of US declaring the Wuhan coronavirus episode as a public health emergency which came at the same time of WHO’s declaration of the episode as a global health emergency. In parallel, Britain also formally just left European Union.
With Singapore stocks markets being generally a price taker, expect Singapore stocks to trend south tomorrow in line with the performance of the US stocks markets. Moreover, the China stocks markets which have been closed for a week will re-open tomorrow. China is the Ground Zero of the Wuhan coronavirus and the Wuhan episode has become worse during the closing of the China stocks markets. Investors expect that the China stocks markets to factor in the updated development of the Wuhan episode and WHO’s declaration of the episode as a global health emergency.
In a nutshell, expect a sell-off of Singapore stocks when the markets open next week.
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