Tag Archives: China
Accessing the Growth of the “New China” Economy
As China’s economy matures, consumption and service-related industries are becoming structurally more important. Because the country’s stock market continues to have significant exposure to “old economy” sectors, many market participants are seeking alternative index solutions to participate more directly in China’s fastest growing areas. Launched in September 2016, the S&P New China Sectors Index provides access to…
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Golden Eye of the Storm
Much has been made of the relative performance of gold since the start of the global COVID-19 pandemic. The S&P GSCI Gold gained 10.2% YTD through April 7, 2020, highlighting its safe-haven status; however, it is worth reviewing this performance and considering what demand drivers may influence gold prices over the coming months. The generally…
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How the Chinese Equity Market Responded to the Domestic and Global Coronavirus Outbreak
As the coronavirus has spread across continents, countries around the world are experiencing a slowdown in economic activity and volatility in the financial markets. The S&P Pan Asia BMI and S&P 500® lost 20.5% and 20.0%, respectively,[1] in the first quarter of 2020. During the same period, the S&P China A Domestic BMI and S&P…
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China: An Unlikely Stabilizer in Emerging Markets
As investors grapple with the economic fallout of COVID-19 and seek to understand its impact, China has become an unexpected stabilizing force in emerging markets. Despite being the epicenter of the outbreak, Chinese equities have experienced lower volatility, minimal currency fluctuation, and less exposure to falling oil prices in the recent market environment in comparison…
- Categories Commodities, Equities
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Commodities Prices Slump in January
It was a tough start to the year for commodities. The S&P GSCI ended the first month of 2020 down 10.8%, the largest month-over-month decline since November 2018. The outbreak of the coronavirus in China’s Hubei Province flustered most financial markets, and the commodities markets were hit particularly hard given the potential impact on global…
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S&P China 500 Ignores Trade Tensions to End the Year on a High Note
The S&P China 500 advanced 12.9% in Q4 2019, an indication that investors shrugged off U.S.-China trade tensions and signs of a slowing economy. The performance was a reversal from losses during the prior two quarters, which had followed an outstanding 23.6% surge in Q1 2019. The full-year result was a welcome contrast to the…
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Emerging Markets: Enter the Dragon
The 2010s proved to be a disappointing decade for the S&P Emerging BMI, at least in relative terms. With a few weeks to go until the finish line, the index stands at a total return of 50% in U.S. dollars, compared with 160% for the S&P Developed BMI, as of Dec. 16, 2019. Although emerging…
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What’s Inside the S&P China A-Share Factor Indices? Sector Allocation versus Stock-Selection Effect
After examining the risk factor exposure of the S&P China A-Share Factor Indices in our previous blog, we further explore the sector bias and associated impact on index performance. Apart from the S&P China A-Share Enhanced Value Index, all the S&P China A-Share Factor Indices tended to underweight the Financials sector,[1] though other unique sector…
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What’s inside the S&P China A-Share Factor Indices? The Impact of Style Risk Factors
In our previous blog, our studies indicated that most factor indices in China exhibited distinct return characteristics during up and down markets. To understand the sources that drive differential factor performance, we examined the risk factor exposures and factor impact on the performance of S&P China A-Share Factor Indices[1] based on the Axioma AXCN4-MH China…
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Iron Ore Is on a Hot Roll
The S&P GSCI Iron Ore has been on a tear this year, up 72.47% YTD as of June 13, 2019, breaking through the previous high from May 22, 2019. It had by far the best YTD performance out of any of the commodities indices in the S&P GSCI Series. This bullish performance during the first…
- Categories Commodities
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- Commodities
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