Market rat-tled by coronavirus

Overall sentiment appeared to be mixed, with gainers outnumbering decliners at a ratio of five to four.

In the region, Hong Kong fell more than 2% when it reopened for trading yesterday, later dwindling further to end the day 3.26% lower. “It is very difficult to definitely estimate when the outbreak reaches its peak. But I think in one week or about 10 days, it will reach the climax and then there will be no large scale increases, ” Zhong, who heads a national team of experts set up for the control and prevention of the novel coronavirus-caused pneumonia, was quoted as saying.

An AmInvestment Bank report noted that the FBM KLCI, during the epidemic, had lost more than 20% at the worst point of the outbreak, staying depressed for eight months between October 2002 to May 2013 at 630-671 points . After the epidemic was declared over, however, the FBM KLCI gained a hefty 231 points or 34% over the next nine to 12 months, rising to 902 points in March 2004.

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