Asia Insight

Stay up-to-date with what’s happening in Asia

Blackfriars Asset Management

Asia Insight

February 2019

In this issue
  • A passive path to China
  • Results round up
  • Fed dovish and stimulus to impact Chinese economy in 2Q subject to a trade deal
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Previous Asia Insight

January 2019
• Deck chairs & the Greenspan Put
• Unctad warns on trade war
• China – bond defaults on the rise
• Asia remains underpinned by cheap valuations
December 2018
• Powell turns off the auto pilot – thank goodness
• Credit market turmoil and slowing growth
• China – QT or monetary easing?
• Asian valuations attractive, progress on trade talks and a dovish Fed would help
November 2018
• Regional recovery on softer Fed comments
• G20 progress upended by Huawei arrest
• Mixed economic data but broadly positive
• Geopolitics remains centre stage
October 2018
• Asia ex trades at 1.2x PBR for the fourth time in 20 years
• Except for China, global emerging markets leverage very low
• Titbits on US corporate leverage and huge intangibles on balance sheet
• Asia trades at huge and unjustified discount to MSCI World and MSCI US