APAC Daily Chart Book

January 24, 2024

Equities

The relative performance of Chinese and Japanese equity markets continues to diverge, with China underperforming since the beginning of 2023. China’s secular growth story has increasingly disappointed, particularly in the wake of the pandemic and this is being reflected in equity markets. Japanese stocks, by contrast, have surprised on the upside, despite a relatively subdued economic growth rate. Chart indexed to the beginning of Abenomics in 2013.