Australia Down Marginally, Singapore Index Loses 1.2%




Australia’s S&P/ASX 200 Index continued to trade within a narrow range at the start of the new week. The index closed 0.21% lower, nearly wiping out the 0.25% gain it saw on May 10.

The Australian Bureau of Statistics released lending data for households and businesses for March 2019 today. The data showed that lending to households had dropped 3.7% in March after rising in February. Lending to businesses fell 1.5% on a seasonality adjusted basis. Compared to the previous March, there was a 10.5% fall in total lending to households and businesses.

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On May 10, the iShares MSCI Australia ETF (EWA) gained 1.21% against the 0.25% gain in the ASX 200. Most of the gain in the ETF came in after 11:30 AM EDT, when officials provided some hope about the trade talks. The iShares MSCI Pacific ex-Japan ETF (EPP), which has 54% of its holdings in Australian equities, gained 1.16% on May 10. The ETF also invests in markets in Singapore and Hong Kong.

New Zealand’s S&P/NZ 50 saw a 0.27% gain today.


Singapore’s Straits Times Index closed May 13 with a fall of 1.2% to 3,234.28 compared to its marginal gain on May 10. The index continued to trade within a narrow range.

The iShares MSCI Singapore Capped ETF (EWS) outperformed the Straits Times Index on May 10 with a 0.54% gain.

The JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX) gained 1.03% on May 10.

With Asian markets in the red, expect all these ETFs to post losses today in the absence of any other news.


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