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Market Commentary
[Video] Investment Outlook on Multi Asset in H2 2023
Amundi Asia Pacific Market Monthly Commentary - July 2022
Thursday 18 August 2022
Market Commentary
Global markets were lifted in July on the back of improving global sentiments despite ongoing concerns around geopolitics, inflation and a hawkish Fed.
CPI inflation across EM Asia continued to trend higher during the month. Central banks in the region, with exceptions of China, Thailand and Indonesia, took steps to tighten monetary policy. Both the BSP and MAS surprised markets with off-cycle adjustments, whereas, in their regular meeting, the BNM and BOK also announced to hike rates by 25bps and 50bps respectively.
Against this backdrop, MSCI Asia ex Japan Index dipped 1.66% (in USD terms, net dividends excluded), underperforming the MSCI World Index which spiked 7.86% (in USD terms, net dividends excluded). India, Singapore and Japan outperformed while China and Hong Kong became major laggards.
