Much has been written about the impact of Covid-19 on market behaviour and market psychology. The way investors perceive valuations is seen through the lens of Covid-19 because the virus has changed human behaviour and human behaviour impacts markets. For instance, tech stocks moved markedly higher last year regardless of valuation, because technology became the primary method of communication during lockdowns. Tech stocks buoyed market indices such as the Dow Jones Industrial Average, the S&P500 and the Nasdaq Composite and Nasdaq 100 Indices, driving them to all-time highs.

Have a premium account? Sign in to continue reading.

Unlimited access to all stories from $99.9/year*

The latest reporting and analysis from business and investments to news and views on social issues.


  • Simultaneous logins across all devices
  • Instant access to past digital issues
  • Unlimited access to The Edge Malaysia
  • *For annual subscription plan only. T&Cs apply