For the first half of 2021, our preferred cyclicals/value theme play that consists of Energy, Financials, Industrials and Materials related stocks have outperformed the broader market by a significant margin as expected; the rolling six-month average returns of the S&P Energy, Financials, Industrials, Materials sectors stands at +25% that has surpassed the S&P 500’s gain of +15.5% over a similar period.
In contrast, the S&P Information Technology underperformed, with a return of +13.70% and last year’s higher growth darlings; Tesla Inc and ARK Innovation ETF have started to record dismal performances in the last rolling three months with a decline of -13.2% and -21.8% respectively.
Heightened inflationary pressures have started to show up in most cost of production data matrices exacerbated by a global supply shortage of semiconductor chips. All in all, the risk of further inflationary pressures have fuelled the “tapering operations talks” of global central banks to reduce bond purchases in their respective quantitative easing programmes that have contributed significantly to the rally seen in global equities for the past decade.
Thus, what are the potential equities theme plays we should be watching in the upcoming Q3 and can technology/growth stocks stage a comeback? Join us in a live webinar where CMC Markets Market Analyst, Kelvin Wong will decipher the current trend of the global stock market with key technical analysis related charts.
Also, we will be covering the following key points as well:
• The potential impending big move on the US Dollar and its impact on Asian stock markets.
• Technical outlook on precious metals; Gold has staged the expected rebound of +12% from its predefined key support zone of 1,670/1,640. What’s next in play?
Your expert speaker:
Kelvin Wong, Market Analyst
Kelvin has over 15 years of experience in forex and shares, working at hedge funds and leading research firms, including BBSP, where he acted as an adviser on Asian hedge funds and international investment banks. He's an expert in using a unique combination of fundamental and technical analyses, specialising in Elliot Wave and fund flows positioning to pinpoint key reversal levels in the financial markets.
Kelvin has also been named by FX Week as the 'Top Forecaster' for major currencies, as well as emerging currencies, on a frequent basis.
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