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Annunciation profits, Wall Street's socks | giant Limited Liability Company – Funds



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Week in Review and Performance

mature markets

  • The United States announced the first-quarter GDP growth was 3.2%, significantly better than expected, by 2.3%, as well as higher corporate earnings performance, combined with good data on durable goods orders, providing US inventories increased strength, there are 46% of the company reported revenue, 78% better than expected corporate earnings growth of 2.02% on average, than initially expected, the revised estimate of 5.36% on profits, uS stocks finished the week up 1.20%;
  • the two largest economies of the eurozone, Germany, France, the deterioration of confidence (German April Ifo index of business confidence, the French manufacturing confidence index), but often the bull arrived, stocks rose more or less, the European stock indices rose by 0.65%.

emerging markets

  • China held the last meeting of the Central Financial and Economic Committee on Monday, asking to strengthen counter-cyclical adjustment, improve the effectiveness of fiscal strength, but the main income of China's corporations are expected, the Shanghai and Shenzhen 300 constituent stocks, 49% of the company's profits, as expected (in currently, 61% of the company announced revenues), China's stock market fell 1.85% last week;
  • Brazil House of Representatives passed a pension annuity bill made by the Special Committee for discussion and voting on the Brazilian stock market closed higher energy prices and the President of Ukraine called for the introduction of sanctions, dragging down the performance of the Russian stock market, the overall emerging market fell by 1.32% that the 1.68% in the developing countries of Asia, Latin America, rose by 0.60%.

bond market

  • Global central banks Pigeon relations continued to support bond markets, in spite of the global investment climate has improved in the last week, the index of US government bonds prior to 0.54% in the US day length extends slightly astringent;
  • The rest of the risk of the bond was mixed, global high-yield bonds fell to 0.05%, higher-yielding US debt monitor the performance of US stocks, rose 0.65%, concerns about inflationary pressures in Turkey and prospects of the Argentine economy, which is formed by market assets down performance emerging market sovereign debt has been reduced by 0.45% in local currency generated debt decreased by 0.77%.

Raw materials, currency exchange rates

  • The dollar index came to 98-year high, euro 0.84% ​​depreciation of the week, emerging market currency decreased by 1.10%;
  • After 5-2 United States will stop all energy extraction Iran, the world's oil, will probably be more tightening, but US President Trump OPEC to reduce oil prices make energy prices on Brent crude oil, for example, down 0 14%.
Three key events and market analysis

1. Political uncertainty is reduced, Indian stocks have a chance

This year, the Indian stock market is worse than in other countries of the BRIC stock markets, elections are approaching the end helps to reduce political uncertainty, coupled with the central bank of India is still space for further expansion of the balance, the profit on the Indian stock market has a chance to catch up with other countries emerging markets,

Source: Bloomberg, «Hang giant fund to buy" order, 2019/4/25
Source: Bloomberg, «Hang giant fund to buy" order, 2019/4/25

2. keeping up with the United States, the Bank of Canada to adjust the direction

The Bank of Canada kept interest rates unchanged, and eliminates the need to raise interest rates next word when the economic data continue to worsen in the future, may have to cut interest rates rather than the American currency movements.

Source: Bloomberg, «Hang giant fund to buy" order, 2019/4/25
Source: Bloomberg, «Hang giant fund to buy" order, 2019/4/25

3. External shocks even Japan to raise interest rates in the foreseeable future

According to external shocks in demand, Japan automotive and industrial production forecasts remain optimistic, without the annual rate of increase in prices, the Bank of Japan to continue to do something as well as the possibility of expanding monetary easing there.

Source: Bloomberg, «Hang giant fund to buy" order, 2019/4/25.
Source: Bloomberg, «Hang giant fund to buy" order, 2019/4/25.
Source: Bloomberg, «Hang giant fund to buy" order, 2019/4/25.
Source: Bloomberg, «Hang giant fund to buy" order, 2019/4/25.

"Hang giant fund to buy" self-management
This information is for reference only, "Hang giant fund to buy," tried to provide the right advice and information on reliable sources of information, but can not guarantee the integrity of such information. Reimbursement of the emerging markets, due to their level of risk and volatility may be high, and the stability of its political and economic situation may be lower than in developed countries, but also the value of assets may be affected in varying degrees of exchange rates movements can also affect investment changes in value of foreign assets. Investors should be evaluated in accordance with their own investment when the loss or because of direct or indirect use of this material is born, the investor bears the full responsibility, the Company assumes no responsibility.
Forecasted economic trends mentioned in this article do not necessarily reflect the fund performance, fund investment risks, please read the prospectus and investor information Fund.
Funds approved by the Commission for Financial Supervision and agreed to enter into force, but it does not mean that there is no risk manager, the company does not guarantee past performance of the fund, that the fund manager a minimum return on investment fund managers are divided into a good administrator duty of care, the fund is not responsible for the profit and loss, but we also can not guarantee the lowest income, the Fund should read the prospectus before investing in people acquire and investor information.
Trade organizations to the prospectus and the fund investor information are available on request. The Fund shall bear the costs related to the (offshore funds, including distribution costs), have been disclosed in the Fund prospectus and investor information, the investor may, in MOPS or MOPS offshore funds in the request.
Investors to invest in high-yield bonds too high a proportion of the fund must apply to your portfolio. Funds approved by the Commission for Financial Supervision and agreed to enter into force, but does not mean no risk. Due to the less than the credit rating of investment grade or unrated high yield bonds, etc., as well as sensitivity to changes in interest rates are very high, so the fund is likely to rise in interest rates, market liquidity declined, the bond issuer defaults or non-payment of this gold, suffered a loss of interest or bankruptcy. Investors need to be carefully assessed, these are not suitable for people who can not bear the investment risks associated with it. Fund managers in the past do not guarantee the performance of the fund manager, the lowest investment income; fund managers who share the duty of good administrators, the Fund is not responsible for profit and loss, nor does it guarantee the lowest income, before investors should read the prospectus of the Fund buying and investor information.
Invest in Rule 144A bonds within the fund High Yield Bond may invest up to 30% of the total & # 39; in the Fund's assets, the main area of ​​the country to invest in developing countries funds in the bond market and balanced funds may invest up to 15% of the total & # 39; the volume of fund assets is the Fund High Yield bond some may invest in US Rule 144A connection, communication with the & # 39 is private property, the more likely a lack of liquidity, the financial information shown is incomplete or opaque from the price has led to greater Reese volatility ke.
Fund s & # 39; yurytyzatsyi estate was invested in high-yield bonds, the total investment amount may not exceed 30% of the net asset value.
Investors change over time approach, will have different characteristics of the investment activity of the Past is not & # 39; is a guarantee of future performance.
Fund with the interest rate does not reflect the Fund's revenues, and the interest rate does not mean that past and future interest rates, the net value of the fund can fluctuate depending on market factors.
The Fund does not take the costs involved shall be liable to a coupon. Fund of interest income or principal can be paid by the Foundation. It refers to any portion of the principal amount, which may lead to a breach of the original investment amount.
Giant Hang Securities Investment Consulting Co., Ltd. │ Customer Service: cs@anuegroup.com.tw
Address: Xinyi District, Taipei Chung Yan Road No. 89, the second floor, the room A-2 │ Hotline: (02) 2720-8126 │ hours: 09: 00-17: 30


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