Dear readers, today, the Straits Times Index closed the trading day at 3,175 amidst the development of the ongoing novel coronavirus episode. In recent days, it has been suggested that the novel coronavirus might hit the Singapore economy worse than what SARS did in 2003. One reason given was that compared to 2003, the Chinese market is now much larger. Thus any fallouts from the coronavirus situation may translate into more severe consequences for Singapore’s industries which rely on the Chinese markets.
In 2003, the Straits Times Index went to as low as 1,235 at one point. Compared this 1,235 point with the current Straits Times Index, if the coronavirus were to be more severe than SARS, then investors would be seeing the Straits Times Index dive more than 60% to below 1,235. Will it be likely? Well, when it comes to the stocks markets, anything could be possible.
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