Amundi Asia Pacific Market Monthly Commentary - August 2020
Tuesday 18 August 2020
Global markets performances diverged as COVID-19 cases increased sharply across large swathes of the US, as well as in Japan, Spain, Hong Kong and Australia. As a result, many states in the US and other governments paused easing lockdowns and put back some social distancing measures, which put questions on the recovery path. In addition, US-China tensions has further escalated as the US ordered China to close down its Houston Consulate whilst China fought back by ordering the US to close its consulate in Chengdu. Overall, the MSCI World Index continued to rally with a gain of 4.69% (in USD terms, net dividends excluded) whilst the MSCI Asia ex Japan Index outperformed, up 8.02% (in USD terms, net dividends excluded).