Amundi Asia Pacific Market Monthly Commentary - May 2020

Tuesday 16 June 2020

Market Commentary

Global markets continued to strengthen on the back of improved investor sentiment as lock-down measures were eased in most major economies across the globe. Re-escalating US-China tensions created headwinds as the US extended restrictions on Huawei and announced export controls. President Trump further announced that the US would be revoking Hong Kong's special status as a separate customs territory after the National Security Law was approved during China’s annual National People’s Congress meeting, once again sparking social unrest in Hong Kong. MSCI World Index continued to rally on the back of positive market sentiment, up +4.63% (in USD terms, net dividends excluded). In comparison, the MSCI Asia ex Japan Index lost -1.41% (in USD terms, net dividends excluded).


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