Brokers' take

Asia strategy | No rating

UBS, December 2015

After a decent start to the year, thanks to strong performance from Hong Kong equities in particular, the market began to sell off from April onwards. With local exchange rates falling, in particular in South-east Asian economies such as Malaysia, Indonesia, and Thailand, returns were under pressure. Equities in Singapore, Indonesia, and Taiwan have also delivered weak performances due to concerns about the real estate market, commodity prices, and exposure to a global growth slowdown respectively.