The stock market right now is a hot spot all over the world. This is because investors are looking to make some good money in this pandemic situation. Since the pandemic hit and it hit pretty hard there have been a few investment opportunities for people to invest in and make some money and one of them is the shipping market.
The Asian equity is doing well as shippers and raw materials are making a killing and out performing both broader stock gauges and the surge in commodities prices as economies recover. Looking at the stats we see that Shares of Cosco Shipping Holdings Co. jumped 75% this year in Shanghai. Philex Mining Corp. has gained more than 40% in the Philippines, while Vietnam’s biggest steel producer, Hoa Phat Group, advanced 74%.
This is looking good for people who have made a smart investment. The whole world also has been experiencing a rush and surge in energy related share. According to data compiled by Bloomberg it states that Asia stands to benefit more as commodities extend gains. Materials and energy stocks carry a weightage of more than 8% in the MSCI Asia Pacific Index, versus about 6% for the S&P 500 gauge.
Paiboon Nalinthrangkurn, the chief executive officer of Tisco Securities Co. in Bangkok stated that “There is a pent-up demand as several major economies — such as the U.S. and some European countries — reopen with successful vaccine roll-outs, we are upbeat on the shares of exporters, such as electronic parts and commodity products, as more countries open up.”
