Investors zero in on various metrics to answer the question of when will market recover. FMTNews Asia Stock Trade
SINGAPORE: There is no lack of superlatives for the drubbing Asia stocks took to end February in the face of soaring coronavirus cases outside of China: Friday was the worst day for regional equities since October 2018, ending the poorest week in two years and the worst February since the global financial crisis.
Global financial markets saw a sudden recalibration of the damage from this health emergency to the world economy, as US stocks had their fastest correction in history and witnessed their worst week since October 2008. Stocks will find a floor when credit markets have settled, he wrote in a note published Feb 28, adding that “equities have been tied to the reach-for-yield theme since the great financial crisis.”
China’s official gauge for manufacturing activity contracted in February to a record low, highlighting the devastating impact of the virus on the economy. The valuation has dropped to a five-month low for Japan’s Topix index and is at the weakest since August for Korean equities.
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