Weekly Market Updates - November 20th_NEWS_Franklin Medici Fund Management

Weekly Market Updates

Last week, the market was in a frenzy as U.S. indexes surged significantly following the release of the Consumer Price Index (CPI), indicating that inflation was under control. The prevailing theme in the market is the anticipation of no interest rate hike this year, coupled with the vision for interest rate cuts and a soft landing in the coming year.

Despite the abundance of positive signals in the market, investors should exercise caution as inflation has not yet fallen below the Fed target, and the high interest rates may be extended longer than expected, which poses potential risks to the U.S. economy.

The Chinese markets remained flat for two consecutive weeks after it recovered from the year-low trough. The economy is still awaiting further improvement, while the government decided to keep its 1-year and 5-year LPR unchanged recently. The external geopolitical risks have diminished as Biden-Xi’s meeting signals an improvement in U.S.-China relations.

Main Index & P/E Ratio-3 years

Excessive optimism in the US markets continues to be our primary point of concern while geopolitical tensions between the US and China will continue to be a focal point when plotting out our investment strategy for 2023.

Investment views

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