Read the latest market commentaries, outlooks and thought leadership from Invesco professionals in Asia and around the world.

Our investment teams provide insights covering markets events, asset classes and investment-related topics effecting our clients.


Asia Pacific outlook – Q3 2020

As China lifts its COVID-19 lockdown, what will its economic recovery look like? What does this mean for other economies? David Chao, Global Market Strategist, Asia Pacific, shares his global market outlook in this video.

Latest Materials

Expand all
Collapse allExpand all

Invesco Asia Pacific official statement regarding Coronavirus relief

Invesco and its China JV, Invesco Great Wall (IGW), are committed to helping China with immediate healthcare relief from the COVID-19 Coronavirus outbreak and support longer term disease prevention measures. 

Since early February, Invesco Great Wall (Shenzhen Ltd) has helped China address the situation by donating RMB 1 million to the Hubei Charity Federation to provide medical supplies to hospitals in Wuhan.  It has donated an additional RMB 1 million to the Zhong Nanshan Medical Foundation of Guangdong to support work on finding a cure for the Corona virus. 

To show confidence in the market, Invesco Great Wall will be investing RMB 35 million of its firm capital into IGW-managed equity mutual funds.  IGW employees and families have also made commitments to invest no less than RMB 35 million of personal funds into IGW-managed equity mutual funds.  Invesco believes by working together, China will be able to overcome the current challenge and emerge resilient.

Invesco and Invesco Great Wall have been working closely during this time to ensure a supportive environment for employees, including encouraging those in affected cities to work from home as necessary. There are stringent emergency management strategies in place to ensure clear communications and frequent updates are available during this critical time. Top priority is given to the well-being and safety of Invesco employees and their families.
 
About Invesco Ltd.
Invesco is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. NYSE: IVZ; www.invesco.com.
 

Invesco Pension Member Seminar 2020: Webinar replay (Cantonese only)

Invesco Pension Member Seminar was successfully held online on 19 June 2020, with our reputable experts sharing their insights on the trend of the MPF system development and global investment markets. The event featured our seasoned investment professionals including William Yuen, Investment Director, providing his analysis on China and Hong Kong equity market outlook; and Nixon Mak, Managing Director, Head of Hong Kong Pensions and Solutions Strategist, Asia Pacific, sharing his views on the global market outlook and asset allocation of the MPF portfolio in a turbulent time. This webcast can now be viewed On-demand. Use this link to enter the webcast at any time.

Market Outlook - Webinar

  • Market outlook for equities amid ever-evolving investment landscape

    At this webinar, our investment experts shared their views on different equity markets. We have William Yuen, Asian Equities Portfolio Manager; Alexander Tavernaro, CFA, Quantitative Strategies Portfolio Manager; Oliver Collin, European Equities Portfolio Manager and Corinna Lau, Head of Asian Equity Products.
     
  • Navigating the forces shaping the global fixed income markets

    Our fixed income specialists Freddy Wong, Managing Director – Head of Asia Pacific, Fixed Income and Lyndon Man, Co-Head of Global Investment Grade Fixed Income shared their views on the factors which shaping the global fixed income markets.

Market Outlook - Monthly

June 2020 (covering May 2020)

United States

  • US equity markets advanced higher during May, encouraged by signs of states and businesses around the country reopening. Market leadership shifted to sectors that have been laggards in recent times, for example value stocks like financials, which typically trade at low multiples of their book values.
  • US equities have recouped most of loss and staged a sharp rally since bottomed in mid-March. The risk appetite was lifted by contained confirmed case in most states, and better-than-expected employment data, we are moderately favor US equities.

Europe (including UK)

  • European and UK equities continue to rally as countries began easing lockdown measures. Markets were also buoyed by further central bank easing and positive developments at the European level with regards to how the economic recovery would be funded. Utilities, Industrials, IT and Consumer Discretionary were best performing areas.
  • Despite improving outlook and Spain as well as Italy pandemic contained, we remained cautious in Euro Zone due to its cyclical bias as we see better opportunities in other regions.

Asia Pacific (ex Hong Kong ex China ex Japan)

  • Asian equities declined in May. US-China tensions have re-escalated and dominated market headlines, overshadowing accommodative policies and positive developments on the containment of COVID-19. Healthcare staged strong returns and was the best performing sector over the month.
  • North Asia is our preferred market within the region. China, Korea, Hong Kong and Taiwan are all in a way “first-in-first-out” from the impact of COVID-19 and their governments are committed to providing strong monetary and fiscal supports. 

Hong Kong and Mainland China (H-shares)

  • Chinese and Hong Kong equities declined in May. Its was led by a fresh sell-off in late May triggered by renewed US-China tensions that have expanded into technology, financials and geopolitics. 
  • We believe China continues to provide abundant attractive investment opportunities from a long-term view. We believe many themes we have been favouring, such as digitalization and premiumization, will not be derailed by the COVID-19. In Hong Kong however, we are concerned about renewed social tensions and we believe it may weigh on local businesses and delay its economic recovery from COVID-19.

Japan

  • Japan’s equity market ended the month higher as investor sentiment was supported by expectations for a resumption of economic activity in Japan and overseas. These expectations were fuelled in part by the decision of the Japanese authorities to lift the state of emergency.
  • Japanese corporates have been continuing to buy Japanese equity. Corporate governance reform continues to progress slowly but surely leading improvements in capital efficiency and profitability in Japan.

Fixed Income

  • May is a strong month for high yield bonds. Two factors contributed to the ongoing rally: strong central bank support, and a continued slowing of Covid-19, which has led many countries to start exiting lockdown.
  • As economies slow, large fiscal policy stimulus programmes have also been a part of the response of many governments. Structurally, we are of the view that secular stagnation will persist and hence result in a macro economic backdrop which continues to see low growth, low inflation and prolonged low rates. We expect to see relative support of fixed income, especially high-quality assets like government bonds and Investment grade credit.

Emerging Markets

  • The overall emerging equity markets gained amid the reopening of virus-hit economies around the world despite the rate of infections in Brazil, Russia and India continuing to rise. Supported by stimulus efforts from governments and central banks, as well as optimism that a coronavirus vaccine will eventually be developed, the asset class generated positive, albeit modest, returns in May.
  • Commodity prices bounced back somewhat, led by energy prices, with metals such as gold and silver also recording price gains. Commodity sensitive currencies strengthened in value against the US dollar with the Mexican peso and Russian rouble appreciating the most.

 

From the perspective of Hong Kong pension investing. All data are sourced from Invesco dated June 17, 2020, unless otherwise stated.

Disclaimer

The above materials have been prepared only for those persons to whom Invesco has provided it for informational purposes only. It is not an offering of a financial product and is not intended for and should not be distributed to retail clients who are resident in jurisdiction where its distribution is not authorized or is unlawful. Circulation, disclosure, or dissemination of all or any part of the above materials to any person without the consent of Invesco is prohibited.

The above materials may contain statements that are not purely historical in nature but are "forward-looking statements," which are based on certain assumptions of future events. Forward-looking statements are based on information available on the date hereof, and Invesco does not assume any duty to update any forward-looking statement. Actual events may differ from those assumed. There can be no assurance that forward-looking statements, including any projected returns, will materialize or that actual market conditions and/or performance results will not be materially different or worse than those presented.

The information in the above materials has been prepared without taking into account any investor’s investment objectives, financial situation or particular needs. Before acting on the information the investor should consider its appropriateness having regard to their investment objectives, financial situation and needs.

You should note that this information:

  • may contain references to amounts which are not in local currencies;
  • may contain financial information which is not prepared in accordance with the laws or practices of your country of residence;
  • may not address risks associated with investment in foreign currency denominated investments; and
  •  does not address local tax issues.

​All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. Investment involves risk. Please review all financial material carefully before investing. The opinions expressed are based on current market conditions and are subject to change without notice. These opinions may differ from those of other Invesco investment professionals.

The distribution and offering of the above materials in certain jurisdictions may be restricted by law.  Persons into whose possession this marketing material may come are required to inform themselves about and to comply with any relevant restrictions. This does not constitute an offer or solicitation by anyone in any jurisdiction in which such an offer is not authorised or to any person to whom it is unlawful to make such an offer or solicitation