Market Commentary

asia-pacific-market-commentary

Amundi Asia Pacific Market Monthly Commentary - Oct 2018

MSCI Asia ex Japan fell by 10.85% (in USD, dividend included) in October, in a brutal selloff triggered by global market weakness. The region performance was dragged by China, Korea, Taiwan and Hong Kong which all losing more than 10%. China was affected by multiple downward triggers, including a low third quarter GDP growth, poor macroeconomic data post summer and rising volatility from global equity markets. The impact of the trade war is starting to be more visible in China’s macro-economy as Purchase Manager Index came in soft in September, weighted by weakening export orders.

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asia-pacific-market-commentary

Amundi Asia Pacific Market Monthly Commentary - Sep 2018

In the wake of last month’s performance, MSCI AC Asia ex-Japan dropped by 1.38% (dividend included, in USD) in September, losing ground against Global Equities which remained marginally positive. Most of the countries posted a negative performance, except Singapore and Thailand. The main driver of Thailand’s outperformance was the royal approval of two organic laws paving the way for an election to take place by February-May 2019. If this holds up, it could potentially steady the shaky political situation in the Kingdom.

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asia-pacific-market-commentary

Amundi Asia Pacific Market Monthly Commentary - Aug 2018

In August, the MSCI AC Asia ex-Japan index lost 1.02% (in USD terms, dividend included). While some South Asian economies posted positive returns, China dragged the region performance down. Deteriorating Chinese macroeconomic data in July , rapid slippage of the CNY since June and the ongoing trade dispute with US affected the market’s sentiments.  

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Market Views

Expert Talk

US Midterm election

Expert Talk, 07 November 2018

US Midterm election: A divided Congress opens two possible scenarios

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Vignette

Expert Talk , 17 August 2018

Turkey shakes summer thin markets

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7 things you need to know in this summer

Expert Talk, 6 August 2018

7 things you need to know in this summer

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Protectionism intensifies

Expert Talk, 6 Jul 2018

Protectionism intensifies while negotiation continues

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MSCI A share index inclusion

Expert Talk, 1 June 2018

MSCI A Share inclusion

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THE ECB GOES FURTHER THAN EXPECTED

Expert Talk, 12 March 2018

Investors should be ready for a new phase

The European Central Bank (ECB) council removed the easing bias on the Asset Purchase Programme, but President Draghi was dovish in commenting the change. At the global level, a new and more volatile phase is opening up, due to different speeds in Central Banks’ recalibration policies. To deal with this new phase, investors should adopt diversified strategies: Not only duration and credit, but also currencies. This will be, in our view, an important source of performance in this complex phase.

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