ETF PERFORMANCE REP
TRADING HIGHLIGHT
▪ Overall global equities started the month in the positive territory amid reinforced expectations of the Federal Reserve trimming its rate. This came after US reported a cooling labour market, a slight increase in its unemployment rate and a weaker inflation reading. Expansion in the global equities continued in the mid-month with growth stemming from resilient corporate earnings in US equities and China’s broad rescue package to prop up its beleaguered property market.
▪ Growth contracted towards end of the month as US Federal Reserve indicated that rate adjustment might not happen soon. Expansion was further dampened by escalated trade war tensions between the US and China as US planned to sharply increase its tariffs on about USD18 billion worth of China imports targeting key economic sectors such as electric vehicles (EV) and semiconductors. US Treasury Yields rose towards end of the month as investors dialled back expectation on rate cuts.
▪ Despite mixed signals throughout the month, MSCI World Index accelerated 4.2% month-on- month (MoM) (versus -3.9% in April) but Shanghai Composite Index and Shenzhen Composite index moderated 0.6% and 1.5% respectively, MoM as impact of trade tensions overweighted. Meanwhile, LBMA Gold Price AM closed 1.2% higher MoM.
▪ Back in Malaysia, total volume / value traded of the ABMFY1 rose by 344.7% and 346.1% to 75.6K units / RM92.9K. Total volume / value traded of the four China-themed ETFs expanded for the second consecutive month by 52.3% / 98.5% to 1.1 mil units / RM4.1 mil after an eventful month,
▪ Against the uptrend of commodity price, GOLDETF’s total volume / value traded roughly contracted by half from its high base in April to 937.4K units / RM3.3 mil. Similarly, FBMKLCI- EA’s total volume / value traded during the month contracted by 50.5% and 48.4% to 249.5K / RM428.3K.
▪ Overall Malaysian ETFs total volume / value marginally declined to 3.2 mil units / RM9.2 mil during the month.
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