Interestingly, despite a looming recession, to date, the S&P 500 has recovered 38.5% from its March 23 low of 2,237.4 points, and the Straits Times Index is up 17.7% from its low of 2,238.5 points which was also attained on the same date.
Fret not, The Edge Singapore’s 10 global stocks from Issue 917 has headed off the ill effects of Covid-19 to gain 20.5% at the halfway mark.
SINGAPORE (June 26): The ultimate black swan, a global pandemic, has upended markets with a volatility not experienced for more than a decade. To stop the spread of Covid-19, certain sectors — travel, tourism, retail, airlines, hospitality — were almost shut down, triggering a global recession. In contrast, sectors like data centres, technology, IT, biotech and pharmaceuticals are leading the market recovery. It is not that the “recovery” sectors have fundamentally done particularly well. Like politics, perception and sentiments play an important part in the stock market — until financial results are announced, of course.
