Black Swan of the financial market

Fooled By Randomness. This theory talks about hard-to-predict events, rare events and those that are beyond the realm of normal expectations.

The Malaysian economy further worsened by a sharp decline in Brent crude oil price, bottoming at US$20.83 per barrel, which impacted its currency valuation. The sharp decline in oil price has already devalued the ringgit, which has lost five per cent of its value in the last month and has been trading at RM4.40 as of March 19. This is causing anxiety among foreign investors who are offloading their investment in Malaysian equities.

It can be noted that any growth below 2.0 per cent is economically labelled as a global recession. The US’ real GDP is expected to fall by 0.2 per cent, the euro area by 1.5 per cent and Japan by 0.8 per cent, while China, where the coronavirus originated, is projected to slow from 6.1 to 3.9 per cent.

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