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Market Commentary 13 Feb

Hi, and welcome along to the market commentary from Rockfort Markets for the second week in February.

I'm Matt Larsen and here with me is Alex Kowalski.

M: What's been going on in the markets this week?

A: The WHO has released a statement about the coronavirus developments saying that in China the situation seems to have stabilized a little bit, now they obviously also said that could change at any time but that has obviously influenced the markets so we have seen that the DOW has reached a record high again moving up by around 250 points overnight. European markets also up with the DAX leading the pack with 0.89% gains so, the virus hasn't really changed too much but at least the new cases have slowed down a little bit but again the numbers we get out of other China so we're not entirely sure but with what's happening now it's it looks like we have things relatively under control. Still, the United States CDC experts have not been invited yet to China as well which is a little strange because they could help and assist as well so they're still waiting for an invitation.

M: I even saw that the US has already set up some centers and hospitals near major airports just in case it gets worse over the next few weeks.

A: Yes definitely preparing in the US. Otherwise, China's leaders have also made an announcement they've vowed to meet economic targets that have set despite the virus outbreak which could be a bit of a challenge. We'll have to wait and see but positive announcements at least for the markets even the Hang Seng Index in Hong Kong is up, it's actually bottomed out on the 31st of January and since then has gone up from around 26,300 to 27,800 so even the Asian markets have come back a bit. In other news, Trump is going on official visits to India in two weeks to start trade negotiations with India so that could also help with his elections at the end of the year but dealing with India trade negotiations could be a bit more difficult with the regulations there. I think that's the picture we see at the moment.

M: I guess you know while the virus is out just be extra careful and hygienic and make sure you wash your hands because you never know so it's better to be safe than sorry.

A: Thank you and we will see you next time.  All views, news, analysis, quotes, or other information from Rockfort Group and its subsidiaries are general market commentary only and does not constitute investment advice. Before making any investment please consult your financial adviser.

Any questions? You can call us on 09 281 2012 or email us at info@rockfortmarkets.com any time to help you with your trading requirements.

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