May 26, 2017
The S&P/ASX 200 ended the week up 0.4%, led higher by the energy and industrials sectors. Offshore, the S&P 500 gained 1.4% and the EURO STOXX 50 declined 0.2%. In Asia, the Nikkei 225 gained 0.5%, while the FTSE China 50 added 2.8% and Korea's KOSPI 200 jumped 3.0%. Chinese and Korean equity funds (IKO, CETF and IZZ) were amongst the top performers for the week. Currency markets were relatively unchanged last week, with the Australian dollar ending marginally lower at US74.5c. The pound sterling declined after polls narrowed in the lead up to next month's UK election. WTI crude advanced early in the week before pulling back on Friday after OPEC announced lower than anticipated production cuts. Gold and silver gained 1.0% and 3.1% respectively. ETFS Physical Silver (ETPMAG) was the top performing commodity fund for the week. Iron Ore declined 7.6%. The Australian ETF market saw inflows of A$55m and outflows of A$1m from domestically domiciled ETFs. The largest inflows were into domestic equity funds (QOZ and MVW).
May 19, 2017
Global equities retreated last week as US political turmoil dominated headlines. The S&P/ASX 200 ended the week down 1.9%, the S&P 500 dropped 0.4% and the EURO STOXX 50 declined 1.4%. The domestic financial sector was hit hardest, with financial sectors ETFs (QFN, OZF and MVB) all amongst the poorest performers for the week. In Asia, the Nikkei 225 declined 1.5% on a strengthening yen, while the Shanghai Composite posted its first weekly gain in six weeks. The Australian dollar gained 1% last week on general US dollar weakness. The euro gained 2.5% and the yen gained 1.9%. WTI crude gained 5.2% on anticipation of OPEC production cuts. Gold and silver gained 1.7% and 2.9% respectively as investors looked to protect against increased equity volatility. Iron ore advanced 2.1%. Crude oil, silver and gold ETFs (OOO, ETPMAG and QAU) were amongst the top performers for the week. The Australian ETF market saw inflows of A$153m and outflows of A$4m from domestically domiciled ETFs. The largest inflows were into SPDR S&P/ASX 200 Fund (STW).
May 12, 2017
The S&P/ASX 200 ended the week unchanged with a recovery in the resources sector offsetting declines in the major banks on news of the federal government's new bank tax. Offshore, the S&P 500 declined 0.4% and the EURO STOXX 50 retreated 0.6%, while the Nikkei 225 and Hang Seng both gained in excess of 2%. Top performing ETFs domestically were gold miners and resource funds (MNRS, GDX, QRE, MVR and OZR), while financials-focused funds were the poorest performers (MVB, QFN and OZF). The Australian dollar declined 0.5% last week, with the US dollar gaining ground against most of the majors. WTI crude gained 3.5% on falling US inventories. Gold and silver gained 0.3% and 0.2% respectively. The Australian ETF market saw inflows of A$89m and outflows of A$82m from domestically domiciled ETFs. The largest inflows were into ETFS Physical Gold (GOLD) and domestic equity strategy ETFs (HVST, MVW and YMAX). Outflows were from broad-based Australian equity funds (STW and ILC) and cash (AAA).