As the novel coronavirus rages, many of us may feel worried and anxious, just like I do.
Emotions can sometimes blind us and dictate our behaviours. When we panic, investment and consumption decisions will be guided by fear and the need to protect ourselves, and we may even cause us to take on extreme behaviours.
Panic selling occurred in China and Hong Kong stock markets right after the Lunar New Year break. The Hong Kong stock market plummeted more than 1600 points during the first three trading days of the Year of the Rat, while the Shanghai and Shenzhen stock markets each plunged around 8% on the first day of trading. Though these markets rebounded significantly later, cautious investors adopt a risk prevention mode either by taking a wait-and-see attitude or leaving the market until the outbreak subsides. The Hang Seng Index Volatility Index (VHSI), also known as the local fear index, may give you an idea of the fear prevailing in the market.
As it is becoming almost impossible to get hold of surgical masks, people's recent consumption has been smeared in fear.
No “Wants”, just “Needs”
Anything that helps fight the coronavirus is something we need, be it an air purifier or something we might just “want” and is good to have in the past.
The more the safer
Safety is an abstract idea that cannot be measured. While we need the masks and alcohol-based hand sanitizers to feel safe, some people may turn their homes into a small warehouse filled with rice, rolls of toilet paper, instant noodles and shower gels in order to have peace of mind.
Ignore the prices
When it comes to our life, we may ignore the reasonable prices or worthiness of some personal healthcare items.
Blinded by fear
The wise should not believe in rumours. But when we are in fear, an online post or a screenshot would be enough to trigger our panic. A case in point was the recent panic buying seen in Hong Kong.
Panic breeds chaos. While we cannot control the outbreak, we can at least control our emotions in adversity. Let’s stay healthy physically and mentally as we overcome this hardship together.
