SINGAPORE (Feb 7): In spite of the novel coronavirus contagion, which continues to spread and claim lives, equity markets are starting to recover.

A case in point is the US equity market, which has shrugged off its recent plunge. From having declined to a year-to-date low of 3,225.52 points on Jan 31, the S&P 500 index has rebounded 3.4% to close at a new all-time high of 3,334.69 on Feb 5.

In contrast, crude oil prices have continued to trade lower on the back of a projected fall in demand. The Brent and West Texas Intermediate crudes are both down about 16% year-to-date, respectively, to trade at US$55.46 ($76.78) and US$51.29 per barrel on Feb 6, despite a minor rebound.

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