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Amundi Asia Pacific Market Monthly Commentary - October 2020
Thursday 19 November 2020
Market Commentary
October was another bumpy ride as investors shied away from risk assets ahead of the US elections. With the election now over, we expect risk assets in Asia, including equities and high yield bonds to perform as policies are more predictable and stable and the new administration is expected to take on a more collaborative and negotiation-based approach. Furthermore, investors started to take profit in a handful of crowded YTD outperformers (namely Tech companies) with the unveiling of the 3Q earnings season. In summary, the MSCI Asia ex Japan Index gained 2.37% in October (in USD terms, net dividends excluded), outperforming the MSCI World Index which saw a loss of -3.14% during the month (in USD terms, net dividends excluded).
