European markets will be waking up to a fairly quiet session with London closed for a holiday and little on the economic calendar to stand in the way of the latest rate-cut rally. Investors will be hoping the rise in risk appetite following Federal Reserve Chair Jerome Powell's relatively dovish steer on the U.S. interest rate outlook continues this week, after Wall Street and the MSCI World index hit three-week highs on Friday. The MSCI Asia ex-Japan index on Monday climbed to its highest since February 2023 while mainland stocks in China got off to a solid start after returning from the extended Labour Day break, in a sign that fragile investor sentiment is finally turning.
Investor sentiment in Asia is set to open the week on a positive note on Monday, buoyed by last week's upward momentum in global stocks, calmer currency markets, and a general easing of financial conditions. The main regional calendar events include services PMI figures from China and first-quarter GDP data from Indonesia, while Chinese President Xi Jinping is in Paris for talks with President Emmanuel Macron and European Commission President Ursula von der Leyen. Investors will be hoping the rise in risk appetite following Federal Reserve Chair Jerome Powell's relatively dovish steer on the U.S. interest rate outlook on Wednesday continues into this week.
Harding Loevner, an asset management company, released its “Global Equity Strategy” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. The stock market recovered in the last quarter of 2023. The market regained all that it lost in the steep decline in 2022. The fund generated 13.21% (13.10% net) compared to 11.15% […]
Infused with another strong earnings season and calmer bond markets, a record high S&P500 now looks to vault the 5,000 point hurdle for the first time - just as China's worrying deflation deepens into its Lunar New Year break. With U.S. economic growth above 3%, unemployment below 4% and aggregate annual profit growth above 8%, the S&P500 has raced up 21% since late October. Excluding China's ailing market, the MSCI World index of developed economy stocks hit a record on Thursday too - having breached the January 2022 high earlier this week.
(Bloomberg) A roughly $61 trillion global benchmark of developed-market equities rose to an all-time high on Wednesday, with Wall Street’s technology behemoths leading the way.Most Read from BloombergHaley Loses Nevada Primary to ‘None of These Candidates’ OptionChina Replaces Top Markets Regulator as Xi Tries to End RoutTesla Asks Which Jobs Are Critical, Stoking Layoff FearsUS Commercial Real Estate Contagion Is Now Moving to EuropeTrump Denied Immunity in DC Election Case by Appeals CourtT