Monthly Commentary

Monthly Commentary August 2023

Equity markets experienced a sharp turn-around in August, with most major indices ending deep in the red. In the US, the S&P 500 declined by 1.6%, while the Nasdaq fell by 2%. London’s FTSE 100 fell by 2.6% and in the East, Hong Kong’s Hang Seng Index was down a whopping 8.2%. On a global basis, the MSCI All Country World Index declined by 2.7%, while the MSCI Emerging Markets index fell by 6.1%. On a relative basis, the commodities market was fairly subdued, with Brent Crude oil trading 1.5% higher and gold 1.3% lower. The notable standout here being copper, which fell by 5.8%.

Monthly Commentary July 2023

Equity markets delivered strong performances in July. In the US, the S&P 500 was up 3.2%, while the Nasdaq composite gained 4%. Globally, the MSCI ACWI increased by 3.69%, bolstered by especially strong performance in emerging markets as the MSCI Emerging Market index gained 6.3%. Performance in China was particularly strong, with the Hang Seng index gaining 7.2%. Commodities also had a strong month, with Brent Crude increasing by 14%, and copper by 7%. Natural gas was weak however, declining 5.8%

Monthly Commentary June 2023

Equity markets delivered strong results to end of the 2nd quarter of 2023. The MSCI ACWI returned 5.8%, while in the US both the Nasdaq and S&P 500 were up by 6.6%. Markets in the East also performed well, with Japan’s Nikkei gaining 7.5% and Hong Honk’s Hang Seng Index ending the month 4.5% higher.

Monthly Commentary May 2023

Global equity indices delivered widely varying results during the month of May. In the US, the S&P 500 was up 0.4%, while the Nasdaq gained almost 6%. Across the pond, the London-based FTSE 100 lost 5.04%, and in the East, Hong Kong’s Hang Send index lost nearly 8%, while Japan’s Nikkei 225 gained more than 7%.

Monthly Commentary April 2023

There was a wide dispersion in performance amongst Global equity indices in April. The S&P 500 was up 1.6%, but the Russel 2000 was down 1.8%, and the Nasdaq Composite ended the month flat. Outside of the US, the MSCI ACWI was up 1.5%, but this stood in stark contrast with certain regional indices, amongst them Hong Kong’s Hang Seng, which fell almost 2.5%.

Monthly Commentary March 2023

March was a strong month for global equity indices, capping off a quarter where returns were firmly in the green. The MSCI ACWI was up 3.1%, while the S&P 500 and Nasdaq increased by 3.7% and 7.8% respectively. Things were less rosy in the UK, where the FTSE 100 fell by 2.5%. For the quarter, the S&P 500 was up almost 7.5%, while the Nasdaq improved by a whopping 17%. The FTSE 100 had a less eventful quarter, but still ended up 3.5%.

Monthly Commentary February 2023

After starting the year firmly in the green, most global equity indices gave up gains in February. The S&P was down 2.5%, surprisingly more than the techheavy Nasdaq which fell only 1%. Globally, the MSCI ACWI was down 2.8%, while Hong Kong’s Hang Seng index lost more than 12%. Stocks fared better in Europe, with London’s FTSE and the Euro Stoxx both gaining 1.8%.

Monthly Commentary January 2023

After a tough 2022, equity markets started 2023 strongly. The S&P 500 gained 6.3%, with the Nasdaq rising 10.7%. This optimism was evident across most global markets, with the FTSE 100 rising by 4.3%, the Nikkei by 4.7% and the MSCI ACWI increasing by 7.2%.

Sign up to receive our Quarterly Telescope

    Sign up to receive our Quarterly Telescope