Market Updates

Market Wrap Monthly Update

May 2019

Highlights include:

  • Global stocks in May fell for the first time in five months after China-US trade talks unexpectedly broke down, reports pointed to a slowing in the US economy and political uncertainty rose in the Eurozone.
  • Australian stocks, however, rallied on the surprise re-election of the Liberal National coalition and after the Reserve Bank of Australia hinted it would cut the cash rate to a fresh record low.
  • A drop in the Australian dollar reduced losses for those who have unhedged investments in global equities.
  • During the month, 10 of the 11 sectors slid in US-dollar terms. IT (-8.4%) fell the most while real estate (+0.2%) rose.
  • The Morgan Stanley Capital International (MSCI) World Index fell 5.8% in US dollars and 4.3% in Australian currency.
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