Fret not, The Edge Singapore’s 10 global stocks from Issue 917 has headed off the ill effects of Covid-19 to gain 20.5% at the halfway mark.

SINGAPORE (June 26): The ultimate black swan, a global pandemic, has upended markets with a volatility not experienced for more than a decade. To stop the spread of Covid-19, certain sectors — travel, tourism, retail, airlines, hospitality — were almost shut down, triggering a global recession. In contrast, sectors like data centres, technology, IT, biotech and pharmaceuticals are leading the market recovery. It is not that the “recovery” sectors have fundamentally done particularly well. Like politics, perception and sentiments play an important part in the stock market — until financial results are announced, of course.

Interestingly, despite a looming recession, to date, the S&P 500 has recovered 38.5% from its March 23 low of 2,237.4 points, and the Straits Times Index is up 17.7% from its low of 2,238.5 points which was also attained on the same date.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook