SINGAPORE (Apr 16): As the Covid-19 situation drags on, market watchers are looking at 2Q2020 to be one of the worst quarters in history as the global economy enters into a synchronised recession. 

Although China has since bounced back with a V-shaped recovery after managing to control the outbreak in 1Q2020, KGI Securities analysts note that major export destinations such as the US and EU are collapsing under the weight of shutdowns. 

“The markets hate uncertainty, and until a medication or vaccine is developed to fight the coronavirus outbreak, Covid-19 will be an overhang on the economy,” says the KGI team in a Monday report.

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