Market wraps 28th January 2020
Morning Bell - Jessica Amir
The Aussie share market futures are suggesting a 1.2% fall. Yesterday the market was closed for Australia day, while on Friday the benchmark index ASX200 closed flat, only gaining 0.4% on the week.
Global equity investors took profits off the table and flighted to traditional safe haven assets like gold and bonds, as the Coronavirus intensified. The death toll in China rose by 63 people since Friday, to 81 today, with 461 in a critical conditions and over 2,800 more cases globally, including in the US, France, Canada and here in Australia. Heavy selling in global markets was fueled by the uncertainty, particularly as China is the biggest driver of global growth.
All eyes on Auckland International Airport (AIA), Credit Corp (CCP) and Oil Search (OSH).