The number of confirmed cases keeps rising…
As yet, there is no vaccine or proven treatment for coronavirus. By definition, unless all cases can be quarantined, there is only one certainty — this virus is going to keep spreading.
I spoke to a friend of mine involved in port operations in Auckland. He’s never seen traffic from China so quiet. He wonders when the two-dollar shops will start showing empty shelves.
Right now, red-alert warnings are starting to sound. China is struggling to contain a spreading and potentially lethal virus. Factories are being shuttered. Borders are being closed.
Until we see a turnaround in the virus situation, expect any market entwined with China to get hit. Read: Australia and New Zealand, as major Chinese-export partners, are at the front of the line.
But there will be upside…
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Simon is the Chief Executive Officer and Publisher at Wealth Morning. He has been investing in the markets since he was 17. He recently spent a couple of years working in the hedge-fund industry in Europe. Before this, he owned an award-winning professional-services business and online-learning company in Auckland for 20 years. He has completed the Certificate in Discretionary Investment Management from the Personal Finance Society (UK), has written a bestselling book, and manages global share portfolios.