![封面 封面](https://www.fmmfo.com/uploadfile/ueditor/image/202310/16981420748468d8.png)
![三角 三角](https://www.fmmfo.com/uploadfile/ueditor/image/202310/169814208954a698.png)
Weekly Market Updates
US markets ended the week once again rather flat with the NASDAQ composite leading the gains while Dow Jones lagged. Investors are largely staying on the sidelines as markets are awaiting more signs of what’s to come from this month-end Federal Open Market Committee (FOMC) meeting and whether there could be an extended period of high rates.
Recent released economic data on US nonfarm payrolls is also showing surprise on the upside, hence implicitly increasing the probability of further rate hikes while not providing the Fed any incentive for rate cuts.
Global equities also posted their worst quarterly return since Q3 of 2022 as interest rates continued to weigh in on market bulls. The current pullback is still in line with our Houseview, though we still see room for further downside before any upward movements.
![1 1](https://www.fmmfo.com/uploadfile/ueditor/image/202310/16981421565769f8.jpg)
European markets continue to inch upwards with investors dipping their toes in the Eurozone with lack of incentives for the US risk assets while still being cautious of Asian equities.
Rising oil prices, against strong US strength, also aided in Euro equities.
![oil oil](https://www.fmmfo.com/uploadfile/ueditor/image/202310/1698142167a41240.png)
Asian markets on the other hand were edging in the red just before the start of the Golden Week holidays as news of arrest regarding troubled Chinese Evergrande founder spooked investors, fearing that the Chinese property saga may have yet to reach a bottom. However, with that said, Chinese risk assets continue to appear very attractive from a valuation standpoint.
Asian markets were largely dipping in the red during the Golden Week holidays as a lack of investing volume resulted in spikes in volatility.
![标准 标准](https://www.fmmfo.com/uploadfile/ueditor/image/202310/16981421787f7a3d.png)
![香港 香港](https://www.fmmfo.com/uploadfile/ueditor/image/202310/1698142191a2b1ca.png)
![海峡 海峡](https://www.fmmfo.com/uploadfile/ueditor/image/202310/1698142203cd1169.png)
Main Index & P/E Ratio-3 years
Over the weekends, shocking news of Hamas militants’ assault on Israel was in the spotlight. In addition to current geopolitical tensions between Russia and Ukraine, investors are now zooming in on the potential impact of oil prices as Iran, one of the world’s major oil producers, remains supposedly a backer of the Palestinian Islamist militant group. Should any escalation or extension of help from the US and Iran occur, this incident could blow up bigger than any investors had in mind.
![](https://img.xiumi.us/xmi/ua/3b90k/i/62776d12ef56e6e3ce9415add3056e74-sz_2052.png)
Investment views
![E E](https://www.fmmfo.com/uploadfile/ueditor/image/202310/169814221885b69b.webp)
![底图 底图](https://www.fmmfo.com/uploadfile/ueditor/image/202310/16981422274d28e1.jpg)