Asian markets up despite virus fears


Despite the ongoing coronavirus pandemic, Asian stock markets are on track to have their best week in over a year, while the S&P index in the US reached a record high on Thursday fueled by optimism around its upcoming employment data.

“Markets have had some volatility, but the declines have been quite small compared to how much we’ve heard about it in the media,” says Monique Wong, senior portfolio manager at Coutts.

“The market is looking through these virus disruptions – we had the Sars epidemic in 2003 and a lot of investors saw that was a temporary disruption to global growth before things returned to normal. Economic fundamentals are good – jobs data out at lunchtime will show us that the US economy is in good health.”