An electronic board showing the Hang Seng Index outside a bank in Central on July 6. The dominance of narrative finance appears to have untethered markets from their traditional indicators. Photo: Sam Tsang An electronic board showing the Hang Seng Index outside a bank in Central on July 6. The dominance of narrative finance appears to have untethered markets from their traditional indicators. Photo: Sam Tsang
An electronic board showing the Hang Seng Index outside a bank in Central on July 6. The dominance of narrative finance appears to have untethered markets from their traditional indicators. Photo: Sam Tsang
Richard Harris
Opinion

Opinion

The View by Richard Harris

Joy over coronavirus recovery has left markets bereft of all logic

  • Global markets are not supported by economic fundamentals but by stories or narratives convincing investors that everything will be fine
  • While the future is likely to be better, investors must be wary that the market always has the last laugh

An electronic board showing the Hang Seng Index outside a bank in Central on July 6. The dominance of narrative finance appears to have untethered markets from their traditional indicators. Photo: Sam Tsang An electronic board showing the Hang Seng Index outside a bank in Central on July 6. The dominance of narrative finance appears to have untethered markets from their traditional indicators. Photo: Sam Tsang
An electronic board showing the Hang Seng Index outside a bank in Central on July 6. The dominance of narrative finance appears to have untethered markets from their traditional indicators. Photo: Sam Tsang
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Richard Harris

Richard Harris

Richard has pioneered Asian investment management at senior levels for companies such as JP Morgan, Citi, BNY Mellon and several start-ups. He has 40 years of experience in a full range of investment and capital markets activities. He is CEO of Port Shelter Investment Management.