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 13, 2017 — Markets had cold feet last week with respect to high-momentum, technology-oriented positions that have contributed to a substantial run-up in equity values this year. Since Friday, June 9, the technology sector is down by 4.5% vs. -0.4% for the S&P 500. What goes up too fast often needs a periodic pause or correction.
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.