People walk past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, on April 2, 2020. Photo: APPeople walk past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, on April 2, 2020. Photo: AP
People walk past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, on April 2, 2020. Photo: AP
SCMP Editorial
Opinion

Opinion

Editorial by SCMP Editorial

Stock markets are divorced from the state of the global economy

  • Despite the Covid-19 pandemic and the threat of a new cold war, investors have focused on the slightest sign of recovery to propel a rally. But at these levels, caveat emptor has never been more appropriate

People walk past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, on April 2, 2020. Photo: APPeople walk past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, on April 2, 2020. Photo: AP
People walk past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, on April 2, 2020. Photo: AP
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