# Coronavirus punishes equities, ringgit and crude palm oil

> Malaysian equities fell 1.35% and the ringgit lost 0.67% against the dollar as fears of a coronavirus epidemic spread. Crude palm oil plunged 7%, its biggest intraday drop in over seven years, with the plantation index down 3.17%.

- Date: 2020-01-29 · published 2020-01-29T12:00:00.000Z
- Category: macro · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/55341-coronavirus-punishes-equities-ringgit-and-crude-palm-oil
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Risk-off sentiment from the virus outbreak hit palm oil sharply, pressuring vegetable oil prices and the ringgit, which affects palm oil export competitiveness and feedstock costs for buyers.

## Read by commodity

- USDMYR: bullish ▲
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2020-02-28 | [Asian palm oil market drops 5.7% on coronavirus fears \| S&P Global](https://feedsoft.ai/events/5814-asian-palm-oil-market-drops-5-7-on-coronavirus-fears-s-and-p-global.md) | -4.9% | -14.0% |
| PALMOIL | 2025-04-07 | [Palm and Soy Oil Prices Drop as Oil Prices Decline](https://feedsoft.ai/events/9631-palm-and-soy-oil-prices-drop-as-oil-prices-decline.md) | -2.5% | -6.2% |
| PALMOIL | 2018-08-13 | [M'sian equities hit, ringgit lowest level in 10 months on Turkish troubles \| The Star](https://feedsoft.ai/events/63775-m-sian-equities-hit-ringgit-lowest-level-in-10-months-on-turkish-troubles-the.md) | -0.7% | -0.0% |
| PALMOIL | 2020-03-13 | [Crude oil sell-offs see prices for palm oil decline \| Analysis & Features \| The Grocer](https://feedsoft.ai/events/54237-crude-oil-sell-offs-see-prices-for-palm-oil-decline-analysis-and-features-the.md) | -2.8% | -3.9% |
| PALMOIL | 2020-02-25 | [Crude palm oil futures hit 4-month low on uncertain market sentiment \| Malay Mail](https://feedsoft.ai/events/6573-crude-palm-oil-futures-hit-4-month-low-on-uncertain-market-sentiment-malay-mail.md) | -13.3% | -15.6% |

## Sources

- themalaysianreserve.com: https://themalaysianreserve.com/2020/01/29/coronavirus-punishes-equities-ringgit-and-crude-palm-oil/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.