Weekly Market Updates - November 8th_NEWS_Franklin Medici Fund Management

Weekly Market Updates

US markets have recovered from the October decline and are now approaching the highs in October. This recovery is attributed to the US Federal Reserve's decision to maintain the current interest rates, coupled with the positive market sentiment bolstered by employment data indicating that previous efforts from the Fed to tame inflation is underway.

There are expectations of no interest rate hikes in December and interest rate cuts in the coming year. Still, we suggest that investors should exercise caution in the current "overly" optimistic investment environment due to uncertainty surrounding the potential extension of interest rates.

Japanese Yen dropped below the USD/JPY 150 yardstick but later rebounded and maintained the 150-level following the decision of the relaxation of Yield Curve Control (YCC). This decision can be seen as a start of Japan’s exit from YCC and Japanese Yen are likely to appreciate in the case of US interest rates cut.

Main Index & P/E Ratio-3 years

China market was flat last week after its rebound. It’s a good signal that market was sustained and didn’t continue its continued decline. The market needs more time to regain its lost confidence and awaits more aggressive stimulus measures from the Chinese authorities for further increase.

Investment views

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