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    Pneumonia Outbreak Causes Great Volatility in Global Financial Market

    Abstract:During Chinese Spring Festival Holiday(January 24th to 31th), the global financial market suffered great volatility due to the outbreak of public health emergency. Risky assets including stock fell, with A50 Index dropping 7%, Hang Seng Index 5.7%, Dow Jones Index and S&P 500 Index over 3%. Meanwhile, crude oil and base medal were in a downturn, and U.S. treasury’s yield suffered the biggest decline of 13%.
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      On the contrary, safe-haven assets rebounded, with Gold being up 2%, while Bitcoin rose over 11%, becoming the top performing financial asset.

      After the Chinese Spring Festival, the Hong Kong stock market opened three trading days ahead of the A-share market, and the performance of Hong Kong stock which has the highest correlation with A-share reflected the market situation of the A-share market opening this week. In the three trading days after the Spring Festival, Hong Kong stock fell three days in a row, down 5.86% in total.

      For Hong Kong stock investors, although the stock dropped for three consecutive trading days, there are also great chances. At present, the relationship between the Hong Kong stock market and the mainland economy has been close increasingly.

      From the historical experience of asset prices, the impact of the pneumonia on asset prices will be apparent in the first quarter of 2020. Due to the uncertainty of the development of the disease, asset prices (including the expected response after the opening of the market) have implied many market expectations. Therefore, we believe that investment essentially depends on the quality of the target. It is suggested that investors should take a long-term view on market issues, starting from single stock to find the excellent target which is underestimated and hold it for a long time.

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    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
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