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晨星亚洲股市复盘:三季度周期性首选股平均回报率保持平稳 防御性行业继续落后

Morningstar Asian stock market resumed trading: the average return of cyclical preferred stocks remained stable in the third quarter, and defensive industries continued to lag behind

Zhitong Finance ·  11/08/2023 20:35

On November 8, Morningstar held a seminar on the “Asian Stock Market Outlook Report for the Fourth Quarter of 2023".

The Zhitong Finance app learned that on November 8, Morningstar held a seminar on the “Asian Stock Market Outlook Report for the Fourth Quarter of 2023". It points out that the average return of cyclical preferred stocks remained stable in the third quarter, and the consumer cycle industry remained relatively stable. The defensive industry continued to lag behind, with Pharmacology Biotech (02269) leading the way, with an increase of 22%. Despite concerns from some investors about geopolitical risks, the company's prospects remain bright.

On the industry side, the energy sector performed well due to rising oil prices caused by Saudi Arabia's production cuts, while the technology sector lost money because it tended to be cautious about the prospects of a slowdown in the global economy. The industrial sector experienced a decline due to concerns about the extension of the downward cycle of machinery and equipment manufacturers. The financial services sector rose, and the Bank of Japan, in particular, performed well due to news of the Bank of Japan's policy to expand its yield curve.

Morningstar pointed out that the average return of cyclical preferred stocks remained stable in the third quarter, at 0.3%. Despite this, this is still an improvement compared to Morningstar's cyclical stock list, which fell 7.6% in the previous quarter. The consumer cycle industry remained relatively stable. Chinese e-commerce giant Pinduoduo performed well after strong mid-term results, and its stock price rose 42%. Preferred stocks include Agricultural Bank (01288), Jiulongcang Real Estate (01997), and Pinduoduo (PDD.US).

Furthermore, in economically sensitive industries, the average return rate fell by 3.8%, but this was mainly due to Harmonic Drive Systems (Harmonic Drive Systems) and Win Semiconductors (Win Semiconductors) falling by 28% and 21%, respectively. However, the industry as a whole has seen mixed returns. Preferred stocks include: China Unicom (00762) and Xinke Engineering.

The defensive sector continued to lag behind, with an average loss of 6.1%. Xinao Energy (02688)'s performance was particularly weak, falling 33% during the quarter, as natural gas connection revenue continued to weaken as real estate construction activities weakened. Pharmaceutical Biotech led the way, with an increase of 22%. Despite concerns from some investors about geopolitical risks, the company's prospects remain bright. Preferred stocks include: Pharmaceutical Biology (02269).

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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