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2019/11/15 / Erste Group Research

Equity Weekly


Emerging Markets Aktien leiden stark unter Hongkong-Konflikt. Verhandlungen im US-China Handelsstreit gehen weiter. Globale Aktien -0,2%. Emerging Markets: -3,6%, DAX: neues Jahreshoch.

Der globale Index fiel im Wochenverlauf in EUR um -0,2%. Besonders Emerging Markets Aktien tendierten aufgrund der anhaltenden Proteste in Hongkong schwach. (Hang Seng -5,5%). Der Markt befürchtet, dass es eine aktivere Intervention Chinas geben könnte. Dies würde wahrscheinlich Kritik aus den USA zur Folge haben und erhöht das Risiko dass die US-China Handelsverhandlungen zum Erliegen kommen könnten.

In der kommenden Woche erwarten wir eine Konsolidierung am Aktienmarkt. Unsere mittel- und langfristige Prognose für Aktien bleibt positiv.

Der ATX konsolidierte diese Woche mit einem Minus von 2% in seiner seit Anfang Oktober laufenden Gewinnserie. Stockende Handelsgespräche zwischen den USA und China sowie enttäuschende Konjunkturdaten verdarben Anlegern weltweit den Risikoappetit. Nur 4 ATX-Werte schlossen im positiven Bereich. Bank, Immobilien- und Industriewerte standen auf der Verliererseite. Nächste Woche erwarten wir, dass der ATX seine Seitwärtsbewegung fortsetzt.

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General information

AuthorErste Group Research
Date2019/11/15
Languagede
Product nameEquity Weekly
Topic in focusEquities
Economy in focusAustria
Currency in focusEuro
Sector in focusBanks, Basic Resources, Construction & Material, Insurance, Media, Real Estate, Retail, Technology, Travel & Leisure
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