October 9, 2017— On October 1, the pro-independence government of Catalonia in Spain (Europe’s fourth-largest equity market) held an independence referendum:Ever since Spain became a democratic Kingdom in 1975, Catalonia, the nation’s wealthiest region, has agitated for increasing …
September 27, 2017— On Sunday, Germany held general elections for the Bundestag, its lower house of parliament. This election was the last in a series of 2017 European elections in which right-wing, anti-immigrant parties and candidates challenged centrists. Earlier this year, centrists soundly defeated extremists in both the Netherlands and France.
September 18, 2017— China’s ruling Communist Party (CCP) convenes its 19th National Congress on October 18. The congress will be assembling against the backdrop of a favorable investment climate that goes well beyond mere window-dressing:Rising personal incomes are driving the revenue of many listed companies, especially in e-commerce.
June 22, 2017—What did MSCI decide?MSCI, the principal international equity benchmark index provider, has decided for the first time to include some Chinese “A” shares in its emerging markets (EM) index. The decision goes into effect June 2018.“A” shares are listed on the Shanghai and Shenzen stock exchanges. Historically, the EM index has included only those Chinese stocks listed on the Hong Kong exchange or which have ADRs traded in the United States.
June 12, 2017—On June 8th, the UK held general elections. The ruling Conservatives won more seats in the House of Commons than any other party, but fell short of retaining their governing majority. As a result, the Conservatives had to join up with a small regional northern Irish political party to form a coalition government. Conservative Party leader Theresa May will continue as Prime Minister—at least for now.Brexit was the principal issue in the general election.