Built over the last 50 years, UOB Kay Hian’s regional network has given it the upper hand in sealing deals, but for senior executive director Esmond Choo, the Singapore market — for all its shortfalls — is still the home market to be in

SINGAPORE (Mar 20): In his three decades in the finance industry, Esmond Choo, senior executive director at UOB Kay Hian Holdings, has seen his fair share of market cycles. From his perspective, the 1997 Asian Financial Crisis hit Singapore and Malaysia most directly, causing the most fear, but he sees what is happening now as not far behind: The ongoing Covid-19 crisis has ended the 11-year bull-run of the US markets, sending markets down by nearly 30% in just a fortnight.

“In the current climate there is no real safe haven stocks. When there are fund redemptions, the most liquid stocks get sold first and these are generally large caps,” says Choo.

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