Dover: Recession is unlikely

Dover: This low interest-rate environment is a crucial factor supporting risky assets like equities.

KUALA LUMPUR: A recession in 2020 is unlikely, and investors need not be anxious about global equity markets next year, even as markets have staged a strong advance throughout 2019 and economic data has softened, according to Franklin Templeton executive vice- president and head of equities Stephen Dover.

On the valuation front, global equity valuations appear reasonable. Major global equity markets are currently trading below their long-term average forward price earnings ratios, with the exception of the United States, which is trading at a slight premium.