After the Occurrence of a large number of new cases in Italy, the risk increases to a deterioration of consumer confidence and the business climate in Europe. Possibly also in North America, if there are more cases to be confirmed. Given the incubation period of the Virus for the next two weeks will decide how big the scale of the outbreak will be assessed, what are the steps to be taken by the authorities to contain it, and what is the economic impact of such measures. The Person

Maximilian Kunkel is chief investment strategist at UBS in Germany. In this role, he developed together with his colleagues, investment strategies, assessments, and recommendations for high-net-worth clients.

governments in Europe and North America could also take drastic containment measures, such as in China, which, in turn, could have a significant impact on economic growth in the first half of the year. In the global context, the situation has stabilized to the Coronavirus, however a Day known outside of the province of Hubei have gone back to new sick, is now much and will be surpassed by recovery. A normalisation of economic activity in China is in sight. Examples such as Singapore, where there were 89 diseases, but no deaths, show that the Virus may be associated with decisive action relatively quickly under control.

stocks attractive again

For investors rating it is important, as is the case with any sudden sell-off to focus on the long-term investment horizon and to diversify risks through diversification across asset classes, countries and regions. Emerging-market equities after the recent setbacks, attractive long-term entry points. Valuations of emerging market equities to developed countries values are based on the forecasted price-to-earnings ratio among the five - and ten-year Averages. The Asia Region is rated no Japan, with 1.6 times book value is fair and equivalent to a discount of around 35 per cent of the global competition.

in Addition, can focus investors tactically on so-called "home stayers"shares. For this purpose, companies of the sectors include online trading, Gaming and food delivery, which in the case of stricter health measures should have a larger demand. Also, companies with sustainable dividends offer relatively safe havens for investors, especially in view of the drastic decline of European bond yields and the return on long-term opportunities.

Due to the uncertainty in the market increased fluctuations in the Euro-zone significantly. This volatility increase will result in a higher return potential of Put sale strategies for investors with a higher volatility of leverage and its commitment in the shares of more defensive can make.