STI sinks further on Friday; falls 1.7% on the week
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
ASIAN equities fell again on Friday as mid-week confidence - driven by monetary and fiscal stimulus measures by governments to tackle the Covid-19 outbreak - dissipated.
With fears mounting over the possibility of a worldwide recession, worst-case scenarios of a sustained spread in Europe and the US are starting to be priced in, AxiCorp chief market strategist Stephen Innes noted.
The negativity across equity markets in Asia did not surprise Oanda's Asia-Pacific senior market analyst Jeffrey Halley. He felt sentiment currently reflects "the state of the world right now" instead of "rallies built on foundations of sand" after the US Federal Reserve lowered rates on Tuesday.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
