Market Commentary

July 2019

 

Global Equity Markets
Investors were kept glued to trade uncertainties that hung over the markets and anticipation over the G20 meeting between the leaders of US and China kept risk appetite in check. The US Federal Reserve (Fed) communicated a dovish outlook and iterated that it was more willing to entertain the possibility of a rate cut if economic conditions worsened. Bonds rallied as yields plummeted with slowing inflation, adding to the allure. Oil prices climbed raced higher after Russian President Vladimir Putin struck a deal with Saudi Crown Prince Mohammed Bin Salman at the G-20 meeting to extend output cuts.

Asia Pacific Equity Markets
Asian stocks underperformed their global counterparts during an eventful month. Trade uncertainties hung over the markets and investor anticipation over the G20 meeting between the leaders of US and China kept risk appetite in check. The US Federal Reserve (Fed) communicated a dovish outlook and iterated that it was more willing to entertain the possibility of a rate cut if economic conditions worsened. Australia and Japan underperformed the Asia region.

Asia (excluding Japan) Equity Markets
Stocks in Asia ex-Japan performed in line with the global market during an eventful month. Risk appetite was kept in check from the impending G20 meeting between the leaders of US and China on trade. Meanwhile, the trade uncertainties and the effects of a global slowdown in growth led the US Federal Reserve (Fed) to adopt a dovish message at the Federal Open Market Committee meeting.

 

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

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