Market Moves: Week Ending 27 September 2024

  • China-focused ETFs (CETF, CNEW, IZZ) were the top performing funds of the week after the Chinese government announced a slew of policy changes to support the economy and prop up the real estate market. The CSI300, a benchmark for Chinese equities, had its strongest weekly performance since 2008 and the Hong Kong stock market also had its best week in more than 25 years.1
  • Australian finance sector ETFs (MVB, OZF, QGN) were a theme across the poorest performers. Investors sold down banks after a lower-than-expected CPI report increased the likelihood that the RBA would cut rates in 2024.2 Australian headline inflation came in at 2.7% YoY, well within the RBA’s target range of 2-3%.3
  • There were $648.9 million in reported inflows for the week and $103.4 million in outflows, marking a week of net inflows for the Australian ETF industry.

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Looking for more ETF Express content? Check out this week’s Thematic Spotlight and Commodity Calls.

 

Forecasts are not guaranteed and undue reliance should not be placed on them. This information is based on views held by Global X as at 30/09/2024. Investing involves risk, including the possible loss of principal. Diversification does not ensure a profit nor guarantee against a loss.

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This material represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. This information is not intended to be individual or personalised investment or tax advice and should not be used for trading purposes. Please consult a financial advisor or tax professional for more information regarding your investment and/or tax situation.