Still, there are strengths underpinning the industry, particularly for Asia’s semiconductor producers, according to BNP Paribas strategists Jason Lui and Cici Zhang.
IF the Nasdaq 100’s textbook rebound emboldens Asia tech bulls to buy the recent dip, they might feel they are getting a relative bargain in the process.
The 12-month forward price/earnings ratio for technology stocks in the MSCI Asia Pacific Index, which peaked in January at the highest since 2009 relative to the wider benchmark, has seen that spread narrow by almost half, according to data compiled by Bloomberg. That has brought relative valuations down to levels seen on a number of occasions over the last decade, something which still can’t be said about their US peers.
The transaction follows on from AMP Capital announcing in August last year that it would be pursuing a strategy for its Global Equities and Fixed Income businesses to explore opportunities, including partnerships, to increase their scale to accelerate growth.
Commenting on the move, AMP Capital global head of public markets, Simon Warner said the agreement delivered on AMP Capital’s strategy to find the best opportunities for its global equities and fixed income capabilities to achieve scale and accelerate growth.
“After being established in 2017, GCF has delivered great returns for our clients and I have no doubt this will continue under new leadership,” he said.
Fiera Capital acquiert de nouvelles ressources en matière d actions mondiales et accueille une nouvelle équipe prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.