Global equity markets on aggregate declined over the week ended April 17, 2015, with the MSCI AC World index declining by 1.29 per cent. The developed markets were all in the red over the week.
US equities (as represented by the S&P 500 index) saw a 1.84 per cent decline, while European equities (as represented by the Stoxx 600 index) incurred a 1.36 per cent loss over the week. The Japanese equity market, represented by the Nikkei 225 index, fell 1.07 per cent over the week.
On the other hand, emerging and Asian markets had mixed performances, with the MSCI Emerging Markets index declining marginally by 0.08 per cent whilst the MSCI Asia ex Japan Index increasing by 0.36 per cent over the week.
The performance of East Asian markets were varied, with South Korean equities (as represented by the Kospi index) posting a 2.77 per cent gain but Taiwanese equities incurring a 0.71 per cent loss over the week.
Local Chinese equities continue their upward ascent, with the Shanghai Composite index rallying 5.63 per cent over the week. The HSML 100 index took a slight breather, posting a 1.34 per cent gain over the week.
Over in other emerging markets, Indian equities (as represented by the Sensex index), fell 2.80 per cent over the week, while over in Latin America, Brazil’s Bovespa index declined by 0.94 per cent. Energy prices, represented by the WTI crude oil price, remained above US$50 per barrel, closing at US$55.74 per barrel when the week ended.
Indonesia’s exports fell in March, central bank kept rates unchanged
In Southeast Asia, Indonesia’s exports growth in March continued to face contraction, posting a 9.75 per cent year-on-year (y-o-y) decrease, marking the sixth consecutive month that exports growth has been negative.
Nonetheless, the latest reading came in better than the consensus expectations of a 14.9 per cent y-o-y decrease as well as the downward-revised 16.82 per cent y-o-y decrease in the previous month.
Oil and gas related exports contributed strongly to the drop, with segments such as crude oil, gas and oil products declining by -11.44 per cent, 28.05 per cent and 44.63 per cent respectively on a y-o-y basis. Imports registered a 13.39 per cent y-o-y decrease in March, better than the 15.30 per cent consensus forecast.
Consequently, the trade balance recorded a US$1,132 million surplus in March, improving from a downward revised surplus of US$663 million in the preceding month.
Singapore’s 1Q 15 GDP beats estimates
Over in the Lion City, Singapore’s advanced 1Q15 GDP figures came in stronger than estimated, with y-o-y growth registering a 2.1 per cent growth rate that was the same as 4Q14, beating estimates of a 1.7 per cent rise forecasted by consensus.
On a seasonally adjusted annualised rate, 1Q15 GDP rose by 1.1 per cent on a quarter-on-quarter basis, slowing from a 4.9 per cent rate registered in 4Q14.
While 1Q15 GDP decelerated on a seasonally adjusted annualised quarter-on-quarter basis from 4Q14, the reading managed to beat estimates of a 0.2 per cent increase.
The advance estimates utilise data received in the first two months of the quarter, with subsequent releases prone to adjustments. With advanced growth rates coming in above estimates, the Monetary Authority of Singapore has decided to hold its monetary policy unchanged.
To read more about activities in the market, log on to www.fundsupermart.com