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MSWG Weekly Newsletter 15 May 2020 (English)

(Since the imposition of Movement Control Order (MCO) by Malaysian government beginning from 18 March 2020, public listed companies have postponed their general meetings while some have proceeded with virtual general meetings.)

15.05.2020

Is the stock market defying the COVID-19 gravity?

The current buying frenzy of stocks at a time when the world is still struggling to battle the COVID-19 pandemic is a little mind-boggling – or scary – to say the least.

The way corporate America is treating the COVID-19 economic devastation as a ‘non-event’ as evident by the upward spiralling of the benchmark Dow Jones Industrial Index (DJIA), the S&P 500 and NASDAQ Composite in recent times is nothing short of astonishing.