Our Weekly Podcast and Market Overview from Quilter Cheviot
CHINESE STOCK MARKET DOWN 8%
Alan McIntosh, Chief Investment Strategist
“This time last week we commented on the incidence of the coronavirus, at which point there were 2,744 confirmed cases and 80 fatalities. Seven days later, the numbers are now 17,205 cases and 361 deaths. The first reported death outside of China has also been reported, in the Philippines.
The SARS virus of seventeen years ago recorded around 8,000 cases and 800 deaths, so at present the new coronavirus is not as deadly as SARS, but the absolute number of infected individuals is already higher. Apart from the human tragedy, there was a negative economic impact in Asia and especially China (both viruses originated in China). The Chinese stock market reopened today after an extended closure, with the main index falling by 8%. Most Western markets have fallen by less, with the US stock market down by just over 3% from its January highs…”
Weekly podcast: Markets Uncut
Chinese stock markets reopened following Chinese New Year, falling sharply as news over the spread of the coronavirus continued. Join Richard Carter to find out more, plus Industrials analyst on Boeing’s recent results and the fallout from the 737 Max scandal and Investment Manager Jonathan Raymond on why you shouldn’t listen to Armageddon’s siren call to sell.
Follow the link below for the Quilter Weekly podcast and transcript…