(June 3): How many bridegrooms get to introduce his grandchildren? Well, I did, last Monday. And Selamat Hari Raya to all our Muslim friends. Now, to the article for the week. Why home and Mickey Mouse?
The tense trade war standoff between the two largest economies in the world will keep markets on the back foot, until there is greater clarity. Emerging-market stocks and currencies have, so far, borne the brunt of the selloff, as is to be expected. Investors tend to flock to safer assets when there are greater uncertainties.
Bellwether indices in Hong Kong and South Korea have lost 8.7% and 7.5%, Singapore is down 7.6% and China’s Shanghai Composite index fell 5.9% so far in May. By comparison, US stocks have fared slightly better, with both the Standard & Poor’s 500 (S&P 500) index and Dow Jones Industrial Average down 5.5% over the same period.