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This year’s Budget Speech occurred against the backdrop of a deep and sustained global equity sell-off as investors reacted to the rapid spread of the COVID-19 coronavirus worldwide. While generally well received, the market impact of the Budget was overshadowed by these global developments. It is a reminder that global matters more than local when it comes to investments.
Markets are walking on eggshells as the outbreak of coronavirus disease (COVID-19), first reported from Wuhan, China in late December 2019, is wreaking economic havoc. Data from the world’s second largest economy shows a plunge in business activity in the last month, including massive declines in passenger traffic, electricity generation, shipping volumes and real estate transactions.
Global investors are taking advantage of buying opportunities ahead of policymakers looking to take more coordinated action on propping up economies due to the negative impact of the ongoing coronavirus outbreak.
Do you think short-term insurance broking will survive the AI plus humanoid robotics age?