INTRODUCTION

Well, that did not last long. A cheer brought on by a delay in tariffs on about US$300 billion worth of Chinese goods has proved to be short-lived.

US equities tanked as much as 3 per cent overnight, spooking investors. And as chances of a recession build up, will Asia join the party?

China and Germany released weak economic data on Wednesday, while the world’s largest gaming company, Tencent Holdings, posted disappointing results. Meanwhile, protests continue in Hong Kong for a 11th consecutive week, slamming the city’s economy, while there seems to be no end in sight for the trade war between Washington and Beijing.

It is no surprise that gold, a safe haven asset, is surging.