Portfolio Update - February 2020, Blood on the streets and buying opportunities?

February has come to an end and it has been pretty eventful since the start of 2020 - most noticeably the market selloff driven by the evolving Covid-19 situation. Here's the portfolio update for the month of February 2020.

See: Link to Main Portfolio page

Contents:

1. Portfolio (29 February 2020)
2. Transactions and Dividends
3. Blood on the streets and emerging buying opportunities?
   

Portfolio (29 February 2020)

Notes
1 - Forex rate is based off indicative conversion (actual values will differ)
2 - Alita Resources was previously known as Alliance Minerals Assets Limited.
3 - I had written down Alita Resources to 0. Unless some miracle happen to revive the company or salvage the investment, I expect to remove from my portfolio sometime end-March 2020.

Performance
Down by 4.56% since end-January 2020.

Some commentary on my portfolio

• Still surprised by the relative resilience of Fu Yu Corp's share price - I was expecting it to touch 0.220-0.230 due to exposure to operations in China. I'm interested to know the upcoming financial results to observe the extent of impact of Covid-19 to its business.
• Prime US REIT lau-sai (diarrhoea) from high of 1.07, but slightly offset by forex.
• Lendlease REIT also lau-sai, and is now cheaper than its IPO price.

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Transactions and Dividends 

(a) Transaction Summary

• No transactions

(b) Dividend Summary

• Dividend Declared
• PRIME US REIT: 4.11 US cent per unit, payable end-March 2020
•  Lendlease Global REIT: 1.29 Singapore cents per unit, payable end-March 2020
• No dividends received for the month of February 2020.

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Blood on the streets and emerging buying opportunities?
It seems that more has finally started feeling the heat of Covid-19. The past week has saw the market bathed in red. Dow Jones and S&P500 are now officially in correction territory.

Screencap of past few days of market for Dow Jones and S&P500 (Source: Yahoo! Finance)

Similarly, Singapore market has tanked, with STI down to 3011.08. Likewise, I am not spared from the onslaught, being down -4.56% from end-January 2020.

Straits Times Index chart (Source: Yahoo! Finance)

But I am not panicking (In fact, feeling zen). I attributed could be due to my degree (lack of) of exposure to the market and having a bit more experience (read: stomached significant losses before) now. In my opinion, a correction was overdue and stock valuations was generally too high and not in line with fundamental growth - Covid-19 was merely the catalyst for it. I am starting to see possible opportunities and taking aim.

Is this really the right time to buy though?

In my opinion (and probably shared by quite a number of people too), while we have observed actions by businesses to brace for impact, we have not seen the actual impact to businesses, and the current selloff is more attributable to being fear-driven as opposed to fundamental-driven. In other words, I think this selloff is just a start and there may be a second wave of selloff later on when businesses starts reporting their next financial results.

Some sharing - I also came across one of Dr Wealth's post on Facebook - a list of "Signs of market tops and bottoms". Think it will be a useful read for you guys too.

Closing Thoughts
As tempting as it is, I have decided to stay by sidelines for now, at least until it is possible to observe fundamental impact. There's limited funds for deployment to market and I will have to make the best of it (Ah, the pains of not having much capital at the moment).

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