Last year this time, I have written about “The Property Market in the Year of the Goat”. It’ time we reviewed the past year before telling what we will expect in the Year of the Monkey.
Year of the Goat: Enough bad news?
The strong earth element in the Wood Goat year had posed a big challenge to the world economy. The high disturbance in the global asset market in the last six months is not for the faint-hearted.
It started with the crash of China’s stock market and the sudden depreciation of the Chinese currency. Then the interest rate hike by Federal Reserve caused the struggling of emerging markets. The year ended with steep fall of commodity prices, especially oil, amid market slowdown. And the Year of the Goat was ended with the sharp decline of stock prices in January.
Investors who were unprepared were like lambs …