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Q4 2014 Market Spotlight

Views from Morningstar Investment Management Asia Limited on the global picture, oil price and Asia Pacific markets.

Some highlights from Q4 2014 Market Spotlight:


The Global Picture

  • U.S. monetary policy will diverge from those of the eurozone and Japan in 2015 and probably into 2016. But the Federal Reserve may start raising rates later than the consensus expects, and tightening may be smaller in 2015 than the market thinks.
  • Despite the sharp appreciation of the U.S. dollar, further rises are probable.
  • Headline inflation will shortly turn negative in many advanced economies.



A Look at Local Markets

  • Retail investors piled into China A shares in Q4, boosting Shanghai stocks 36.68% in the quarter. A share prices jumped 20.6% in December alone, a volatile month in which stocks on one day lost more than 5%.
  • In India, stocks earned a respectable 3.26% in the quarter, bringing the total return for 2014 to a robust 29.89%. India has surpassed China as the world’s fastest-growing economy.
  • Japanese stocks started the quarter on the wrong foot, giving up the gains from Q3 before surging again for a quarterly rise of 8.05%. The last-quarter surge brought the advance for the year to a similarly sized 8.95%.
  • For the year, Asia-Pacific stocks in USD together approximately broke even; Korea led losers at -6.99%, measured in won, while China led winners, as previously stated.



You can click here to read the complete Q4 2014 Market Spotlight.


The information, data, analyses, and opinions presented herein do not constitute investment advice; are provided as of the date written, solely for informational purposes; and subject to change at any time without notice. This content is not an offer to buy or sell any particular security and is not warranted to be correct, complete or accurate. The indexes shown are unmanaged and not available for direct investment. Past performance is not a guarantee of future results. Morningstar Investment Management Asia Limited is regulated by the Hong Kong Securities and Futures Commission and is a wholly owned subsidiary of Morningstar, Inc

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  • Q4 2014 Economic Commentary Q4 2014 Economic Commentary

    Morningstar Investment Management recently published its quarterly commentary for the fourth quarter of 2014, exploring the future of global monetary policy, the effect of oil prices, and fear of deflation, among other topics.