Market Comment | Tentative bounce post virus jitters

Summary

Markets bounce back after yesterday’s sharp pullback as concerns about virus outbreak in China eased, although caution prevailed among investors. Meanwhile, robust US housing data boosted the USD, while safe-haven currencies lost steam.

Key points

• Key points:
• Trade strains between US and Europe re-emerged.
• Sovereign bonds yield fell across the board.
• US equity markets and Hong Kong’s Hang Seng index opened higher, while European equities fell.
• Robust US housing data although manufacturing figures continue to disappoint.
• Oil prices remained falling as concerns over disruptions to Libya’s crude output faded.

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