Tag Archives: China

Sep 24, 2020

China A-Share Inclusion – An Update One Year Later

As we mark the one-year anniversary of the initial inclusion of China A-shares in S&P DJI’s global benchmarks, it seems an opportune time to provide an update on key developments relating to A-share inclusion and to examine the impact that A-shares have had on the composition and performance of the S&P Emerging BMI over the…

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Sep 17, 2020

What Would Emerging Markets Be Without China?

In the first decade of the 2000s, the U.S. and other developed countries fell behind emerging market equities by a wide margin, and they lagged China’s markets in particular: the S&P China BMI grew by 600% in the first decade of the new millennium. The 2010s saw a reversal of fortunes for broad-based emerging market…

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Jun 16, 2020

From COVID-19 to U.S.-China Tensions, What to Expect Next for Chinese Equities

On May 29, 2020, I joined S&P Global’s The Essential Podcast, “A View to the Future – China Beyond the Pandemic,” to discuss the Chinese equity market’s performance and the macroeconomic trends during and beyond the COVID-19 pandemic. This blog includes some key highlights we discussed, along with the related index performance observed in the…

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Apr 13, 2020

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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Apr 5, 2020

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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Apr 3, 2020

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…

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Feb 3, 2020

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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Jan 13, 2020

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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Dec 19, 2019

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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Sep 4, 2019

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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