Australia’s S&P/ASX 200 index remained within a narrow range and closed up 0.25% on May 10. New Zealand’s S&P/NZ 50 Index closed marginally down after staying within a narrow range.
As we expected, the iShares MSCI Australia ETF (EWA) registered a marginal gain of 0.23% on May 9. We expect a similar performance from the ETF today in the absence of any major news.
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After falling for the two previous days, Singapore’s STI (Straits Times Index) recovered marginally on May 10. The index gained 0.12%. As with other Asia-Pacific markets, the main Singaporean Index also remained within a narrow range.
Singapore retail sales in March dropped 1% YoY (year-over-year) but increased 1% over February’s sales. Excluding the sales of motor vehicles, retail sales dropped 1.5% YoY and remained flat compared to February.
Neighboring Malaysia saw a 3.1% surge in industrial production in March.
The iShares MSCI Singapore Capped ETF (EWS) ended May 9 with a fall of 0.25% compared to the STI’s 0.43% loss.
The Australia-heavy iShares MSCI Pacific ex-Japan ETF (EPP), which invests in other Asian markets such as Singapore, lost 0.52% on May 9.
The JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX) fell 0.48% on May 9.
Taiwan’s TSEC Weighted Index retreated marginally to end the day at 10,712.99 on May 10. On May 9, the iShares MSCI Taiwan Capped ETF (EWT) fell 1.78%, similar to the index’s 1.74%.
Across the Asia-Pacific region (except China and Hong Kong), the markets had a calmer Friday compared to the other days of the week.