Spreadex Market Update
Investors glad to see a four-day decline snapped
The MSCI Asia Pacific Index climbed 9 percent this year through yesterday amid unprecedented stimulus from Japan’s central bank and optimism the Federal Reserve will continue its monthly bond buying into 2014. Fed policy makers last week signalled diminishing concern over higher borrowing costs as they maintained their $85 billion in monthly bond-buying and sought more evidence of sustained growth before paring stimulus.
Of the companies on the MSCI Asia Pacific Index that have reported quarterly results this season, about half exceeded analysts’ estimates on profit, while 53 percent posted better-than-expected revenue. The MSCI Asia Pacific Index climbed the past two months, pushing valuations on the measure to 13.6 times estimated earnings as of yesterday, up from a multiple of 12.7 at the end of August.
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