21/09/2023
Market Commentary
[Video] Investment Outlook on Multi Asset in H2 2023
Amundi Asia Pacific Market Monthly Commentary - November 2021
Tuesday 21 December 2021
Market Commentary
November was a story of two halves for global markets. In the beginning of the month, global and Asian equities performed well: Southeast Asian economies continued to rebound thanks to the ongoing reopening and loosening of mobility restrictions, Chinese authorities rolled out further easing measures on the property sector, and there was optimism on US-China tariff easing as Biden and Xi met at a virtual summit which emphasized cooperation and consensus building.
Lamentably towards month-end, hawkish Fed comments on inflation, the pace of tapering and the discovery of a potentially more transmissible COVID-19 strain named Omicron weighed down on sentiment. Global equities and EM FX sold off on the possibility of renewed restrictions and their potential impact on global growth.
Against this backdrop, MSCI Asia ex Japan Index was down 3.92% in November (in USD terms, net dividends excluded), underperforming the MSCI World Index which returned -2.30% (in USD terms, net dividends excluded).
