Market Commentary

August 2019

 

Global Equity Markets
Global stocks rose to highs despite a slowdown in the global economy. Investors cheered the prospect of more dovish monetary policy from major central banks that would boost markets. Trade issues between US and China remained unresolved as little clarity emerged the joint talks Shanghai.

Asia Pacific Equity Markets
Asian stocks underperformed the global benchmark during the month of July as tensions escalated in the region. Mutual trading disputes ratcheted up between South Korea and Japan while US-China trade talks in Shanghai yielded little progress. Weeks of continued demonstrations in Hong Kong meanwhile dented investor confidence as retail business suffered. Expectations of the US Federal Reserve (Fed) continuing its easing cycle was dashed after it iterated its latest rate cut was adjustment to counter downside global risks. Australia and Japan outperformed the Asia region.

Asia (excluding Japan) Equity Markets
Stocks in Asia ex-Japan slipped with growing tensions surrounding the region. Little clarity emerged from trade US-China in Shanghai while mutual trading disputes ratcheted up between South Korea and Japan. Protests in Hong Kong meanwhile dented investor confidence as demonstrations continued to wreak social unrest. Expectations of the US Federal Reserve (Fed) continuing its easing cycle was dashed after it iterated its latest rate cut was adjustment to counter downside global risks. Korea, India, Hong Kong and Thailand were the worst-performing countries.

 

August 2019
July 2019
June 2019
May 2019
April 2019
March 2019
February 2019
January 2019

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