Janaury Asia Dashboard: Blue Chips Outperforming Mid & Small Caps

SPDJI
2023-02-02

The $S&P 500(.SPX)$ Pan Asia BMI had its best start to the year since 2012 with blue chips outperforming mid and small caps.  

13 of 14 S&P Pan Asia BMI regions contributed positively to the regional benchmark's returns, with India the sole exception.  

All of our reported Asian government bond indices gained, with iBoxx ALBI performing best.

Summary
• The S&P Pan Asia BMI had its best start to the year since 2012, up 7.3% in January. Mid and small caps lagged blue-chips, with the S&P Pan Asia MidCap and the S&P Pan Asia SmallCap clocking up gains of 5.8% and 6.5%, respectively.
• 13 of 14 S&P Pan Asia BMI regions contributed positively to the benchmark’s returns, with China's contribution the most pronouned at 2.1% while laggard India subtracted 0.3%.
• All but one pan-Asia GICS® sectors finished the month in positive territory, with Information Technology, up 12.0% edging out Communication Services, up 10.5%, for the top spot. Utilities, the sole laggard, shed 1.0%.
• All our reported factors started the year on the front foot, with best performing Quality surging 8.8% in January. Even worst performing Momentum gained a respectable 2.2%.
• All of our reported Asian government bond indices gained, with iBoxx ALBI performing best, up 4.5%.
• Reflecting the relative calm in equity markets, the HSI Volatility Index dropped 4 points to finish the month at 25.

Source: https://on.spdji.com/rs/838-LDP-483/images/dashboard-asia-2023-01.pdf?mkt_tok=ODM4LUxEUC00ODMAAAGJrEDjKzS22eoGeyBDJ73dS9O-cvkNwtI_tMzBAVfhgyPxXtEY2qPZrkd91Z0zDbPnSDQYeNPrJ-Wxrgn-7qIPTHK00SdMJMNPU5L2XwOS9JUh

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