Log in Open account
UAE
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider.
Show more
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, FX or any of our other products work and whether you can afford to take the high risk of losing your money.
Show less
September market performance: emerging markets and Asia lead global equity gains September market performance: emerging markets and Asia lead global equity gains September market performance: emerging markets and Asia lead global equity gains

September market performance: emerging markets and Asia lead global equity gains

Market Rewind
Søren Otto Simonsen

Senior Investment Editor

September was another solid month for global equity markets, with the MSCI World Index advancing 1.7%. While not as dramatic as some previous months, this growth shows that investor confidence continues to build, despite the economic uncertainties in various regions. The global rally, driven primarily by Asia and emerging markets, highlights the evolving dynamics in global equity performance.

United States (S&P 500): The S&P 500 rose by 2.0% in September, extending its gains from earlier in the year. Investor sentiment remains upbeat, with the market showing resilience as it adapts to the ongoing Federal Reserve rate decisions and macroeconomic factors.

Europe: European equities struggled in September, falling by 0.5%. The energy crisis and inflationary concerns weighed on European markets, with investors growing cautious about the region’s economic outlook.

Asia: Asia emerged as a key driver of global market performance, with a robust 4.6% gain. Strong corporate earnings and favourable government policies, especially in Japan and China’s stimulus, boosted investor confidence across the region.

Emerging markets: Emerging markets were the standout performers in September, surging 6.4%. Chinese stimuli and other regions within the emerging markets space posted strong growth.


Sector performance in September presented a mixed picture, with several sectors showing notable strength while others struggled:

  • Utilities: The utilities sector led the way, rising 5.3% as investors flocked to its defensive nature amid broader market volatility.

  • Consumer discretionary: This sector saw a significant gain of 5.1%, driven by increased consumer spending and optimism about future economic growth.

  • Materials: The materials sector climbed 4.4%, benefiting from the ongoing demand for commodities and raw materials in manufacturing.

  • Communication services: Communication services saw a 4.1% gain, reflecting strong performances from companies in media, telecommunications, and entertainment.

  • Real estate: Real estate posted a 3.0% increase, continuing its solid performance as investors seek stable, tangible assets.

  • Healthcare and energy: Healthcare experienced a sharp decline of -3.1%, while energy dropped -3.5%. Oil’s sharp decline of -7.3% weighed heavily on the energy sector, as uncertainties around energy demand and price volatility continued to impact investor sentiment.

The bond market offered steady returns in September, with global bonds rising 1.2%. Sovereign bonds increased 1.1%, while corporate bonds edged higher by 1.6%. Bonds remain a crucial asset for risk-averse investors seeking consistent returns amidst equity market fluctuations.

Sources: Bloomberg and Saxo

Global equities are measured using the MSCI World Index. Equity regions are measured using the S&P 500 (US) and the MSCI indices Europe, AC Asia Pacific, and EM respectively. Equity sectors are measured using the MSCI World/Sector indices, e.g., MSCI World/Energy. Bonds are measured using the USD-hedged Bloomberg Aggregate Total Return indices for total, sovereign, and corporate respectively.

Quarterly Outlook 2024 Q3

Sandcastle economics

01 / 05

  • Macro: Sandcastle economics

    Invest wisely in Q3 2024: Discover SaxoStrats' insights on navigating a stable yet fragile global economy.

    Read article

  • Bonds: What to do until inflation stabilises

    Discover strategies for managing bonds as US and European yields remain rangebound due to uncertain inflation and evolving monetary policies.

    Read article

  • Equities: Are we blowing bubbles again

    Explore key trends and opportunities in European equities and electrification theme as market dynamics echo 2021's rally.

    Read article

  • FX: Risk-on currencies to surge against havens

    Explore the outlook for USD, AUD, NZD, and EM carry trades as risk-on currencies are set to outperform in Q3 2024.

    Read article

  • Commodities: Energy and grains in focus as metals pause

    Energy and grains to shine as metals pause. Discover key trends and market drivers for commodities in Q3 2024.

    Read article

Disclaimer

 The Saxo Bank Group entities each provide execution-only service and access to Analysis permitting a person to view and/or use content available on or via the website. This content is not intended to and does not change or expand on the execution-only service. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Saxo News & Research and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Saxo News & Research is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Saxo News & Research or as a result of the use of the Saxo News & Research. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. Saxo News & Research does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws.

Please read our disclaimers:
Notification on Non-Independent Investment Research (https://www.home.saxo/legal/niird/notification)
Full disclaimer (https://www.home.saxo/legal/disclaimer/saxo-disclaimer)


Business Hills Park – Building 4,
4th Floor, office 401, Dubai Hills Estate, P.O. Box 33641, Dubai, UAE

Contact Saxo

Select region

UAE
UAE
Products & pricing
Platforms
Accounts & service
General
Other
Legal

Trade responsibly
All trading carries risk. Read more. To help you understand the risks involved we have put together a series of Key Information Documents (KIDs) highlighting the risks and rewards related to each product. Read more

Saxo Bank A/S is licensed by the Danish Financial Supervisory Authority and operates in the UAE under a representative office license issued by the Central bank of the UAE.

The content and material made available on this website and the linked sites are provided by Saxo Bank A/S. It is the sole responsibility of the recipient to ascertain the terms of and comply with any local laws or regulation to which they are subject.

The UAE Representative Office of Saxo Bank A/S markets the Saxo Bank A/S trading platform and the products offered by Saxo Bank A/S.