Weekly Recap | iShares Core MSCI EM +2.7%, higher volume beats the market

The Week

iShares Core MSCI EM (IEMG) gained 2.7% this week to close at $74.15, outpacing the S&P 500 by about 0.19 percentage points. The week trended up early before pulling back. After opening Monday at $73.15, the fund climbed to a weekly high of $75.95 on Wednesday, then gave back some of the move on Thursday and Friday to close at $74.15. Weekly amplitude came in at 4.06%. Average daily volume of about 14.6m shares ran roughly 45.5% above the 60-day median, a clear pickup. Price still sits below the 20-day moving average at $75.08 and the 60-day at $79.41, near the lower end of the 60-day range.

Sector News

The week’s headlines centred on Hong Kong equities and Chinese banks. JPMorgan flagged potential short-term profit-taking in Chinese banks on government bond interest tax risk, while keeping a mid-term positive view on the big four banks. UBS called the earnings impact manageable and named Agricultural Bank of China and China Construction Bank as most sensitive on recurring net interest income. HSBC Research upgraded Hong Kong Exchanges to buy. Semiconductors gave China stocks a lift for a stretch, while Alibaba fell 3% to 6% during the week and weighed on Hong Kong. Singles Day sales rose 4.8% year-on-year to $1.78 trillion.

The Week Ahead

US macro data comes in thick next week: the New York Fed manufacturing index on Monday 16 November with a prior of 25.5 and forecast of 18; retail sales on Tuesday 17 November with a prior of 0.8 and forecast of 0.2, retail sales ex-autos prior 0.9 and forecast 0.4, industrial production prior 0.7 and forecast 0.1, plus the NAHB housing market index. These prints will shape risk appetite for emerging-market assets.

In Short

IEMG moved higher on rising volume and beat the broad market this week. Brokers kept a mid-term positive stance on Chinese banks, but short-term interest tax concerns and profit-taking pressure sat alongside it. On the latest trading day, large-lot money was a net buyer while retail money was a net seller. Valuation sits at roughly 51.6x P/E and 1.51x P/B. What comes next hinges on how US retail and industrial data steer sentiment toward emerging-market assets.

This article is generated by LongbridgeAI from market data, for information only and not investment advice.