Market Performance Commentary – 2019
2019 saw significant growth across the majority of major global equity market indices:
US – US equity markets were up almost (+30%). News surrounding a potential US-China trade deal heavily dictated the movements of the S&P 500 throughout the year. By year end, a “phase one” deal was announced and saw markets rally to record highs in December.
UK – UK markets fluctuated throughout the year, amid uncertainty surrounding a Brexit deal and snap general election results. However, confidence was high by year end following a conservative majority victory and the reassurance that a Brexit deal of some sorts would go through in 2020.
Asia – The Hong Kong Hang Seng Index struggled in the later stages of the year, as riots over the introduction of an extradition bill, which would have allowed for criminal suspects to be extradited to mainland China under certain circumstances, was challenged. Although the bill was withdrawn in September, protestors said it was “too little too late” and by then clashes between police and protestors had become more frequent and violent.
Commodities – The gold price continued to rise throughout the year, following the attacks on oil plants in Saudi Arabia towards the end of the year and rising geopolitical unrest.
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