Global equity markets recorded their biggest weekly declines in the past 6 months amid fears of the economic impact of coronavirus and its potential global implications. Increased volatility and fear within the markets have prompted investors to move towards safe havens, especially gold, which has appreciated by around 5.0% since the start of the year.
For the region, markets recorded a mixed performance during the week, with 4 out of the 7 indexes closing in green while 3 closing in red.
Going forward, the downward pressure might continue within global equities as investors will continue to exhibit the risk-off mode until there is more clarity on the potential impact of coronavirus. The regional markets will take cues from the global markets, especially as the spreading of coronavirus and its impact on oil prices will potentially dominate the trading activity during the week.
|Indexes||Last||WTD (%)||MTD (%)||YTD (%)|
|Abu Dhabi (ADSMI)||▼||5,156.19||-1.69%||1.58%||1.58%|
For more information, please find attached the weekly report from Allied Investment Partners PJSC for your reference.