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Investment Corner

Market Snapshot

(The article is available in Chinese only.)

  

This document is prepared by The Bank of East Asia, Limited (“BEA”) and BEA Union Investment Management Limited (“BEA Union Investment”) for customer reference only. The content is based on information available to the public and reasonably believed to be reliable but has not been independently verified.

Any projections and opinions contained herein are as of the date hereof and are expressed solely as general market commentary and do not constitute an offer of any investment, nor a solicitation, suggestion, investment advice, or guaranteed return to make such an offer. The information, forecasts and opinions contained herein are as of the date hereof and are subject to change without prior notification, and should not be regarded as any investment product or market recommendations. This document has not been reviewed by the Securities and Futures Commission of Hong Kong, Hong Kong Monetary Authority or any regulatory authority in Hong Kong. In addition, this documents has not been reviewed by the Monetary Authority of Singapore.

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BEA Union Investment is a non-wholly-owned subsidiary of BEA. The Bank of East Asia (China) Limited (“BEA China”) is a wholly-owned, locally-incorporated banking subsidiary of BEA. The Bank of East Asia Singapore Branch (“BEA Singapore”) is one of the BEA’s overseas branches.

The BEA and BEA Union Investment is the sponsor and the investment manager of the BEA (MPF) Master Trust Scheme, the BEA (MPF) Value Scheme and the BEA (MPF) Industry Scheme respectively. For further details of relevant MPF scheme including the product features, fees and charges, and the risk factors involved, please refer to the MPF Scheme Brochure of the relevant scheme.

 

The videos are available in Traditional Chinese only.

The videos are provided by BEA Union Investment Management Limited ("BEA Union Investment") for information purposes only. BEA Union Investment is not soliciting any action based upon the information or giving any advice or recommendation. Neither the videos nor any of their contents shall be construed as an offer, invitation, advertisement, inducement, undertaking, warranty, or representation of any kind or form whatsoever, and BEA Union Investment hereby expressly disclaims any liabilities in relation thereto. The information contained in the videos is based upon information which BEA Union Investment considers reliable and is provided on an "as is" basis. Whilst every effort has been made to ensure accuracy, neither BEA Union Investment nor any of its Directors/Officers accept any responsibility whatsoever for the accuracy, completeness, or timeliness of the information contained in the videos. The information remains the property of BEA Union Investment. Neither the videos nor any of their contents should be copied or distributed to third parties without the prior written consent of BEA Union Investment.

Investment involves risk. You should consider your own risk tolerance level and financial circumstances before making any investment choices. The unit prices of the funds may go down as well as up. Past performance of the funds is not indicative of future performance. For further details including the product features, fees and charges, and the risk factors involved, please refer to the MPF Scheme Brochure of the relevant scheme.

The videos have not been reviewed by the Securities and Futures Commission in Hong Kong.

Issuer: BEA Union Investment Management Limited

 

The documents are available in Chinese only.


This document is prepared by BEA Union Investment Management Limited for information purposes only. BEA Union Investment Management Limited is not soliciting any action based upon this information, or giving any advice or recommendation. Neither this document nor any of its contents shall be construed as an offer, invitation, advertisement, inducement, undertaking, warranty, or representation of any kind or form whatsoever and BEA Union Investment Management Limited hereby expressly disclaims any liabilities in relation thereto.


The information contained in this document is based upon information which BEA Union Investment Management Limited considers reliable and is provided on an “as is” basis. Whilst every effort has been made to ensure accuracy, neither BEA Union Investment Management Limited nor any of its directors / officers accept any responsibility whatsoever for the accuracy, completeness, or timeliness of the information contained in this document. The information remains the property of BEA Union Investment Management Limited. Neither this document nor any of its contents should be copied or distributed to third parties without the prior written consent of BEA Union Investment Management Limited.


This document has not been reviewed by the Securities and Futures Commission in Hong Kong.


Issuer: BEA Union Investment Management Limited

County/ Region Outlook Overview
Equities Overweight
Market focus has gradually shifted from “peak inflation” to “slowing growth” and “policy adjustments”. Currently, economic data is diverging, inflation remains sticky, and tariff uncertainty persists, so policymaking is increasingly data-dependent. Global equity markets extend the risk-on sentiment and market volatility is expected to continue.
U.S. Overweight
U.S. economic momentum remained healthy in October, with alternative data indicating little change in macro trends despite official data blackout caused by the government shutdown. The labor market held steady, as ADP figures showed no further slowdown even after layoffs at major firms. Wage growth and the unemployment rate remained broadly consistent with September levels, according to ADP data and Chicago Fed estimates. Fed cut rates by another 25 basis points in October to support softening job gains, and will stop shrinking the central bank’s balance sheet starting December. Markets expect that another rate cut will be happened by year-end. Market generally expects that there will be another interest rate cut before the end of the year.
Hong Kong & Chinese Mainland Overweight
China's economy remained subdued, with October’s manufacturing PMI lower mainly due to holidays. Construction and services PMIs also lowered than expected, highlighting ongoing housing and consumer challenges. Exports contracted as global demand failed to offset the deepening decline in shipments to the U.S.. Consumer Price Index rebounded in October, lifted by Golden Week demand for food and services. China equity market rose as a new trade truce with the U.S. lifted sentiment, even as uncertainty remains over core issues like national security and trade balance. China is expected to maintain fiscal discipline while introducing further policy support to stabilize the economy.
Europe Neutral
Business activity in the eurozone unexpectedly reached its highest level since May 2024, supported by Germany’s resilience offsetting weakness in France. The composite PMI rose to 52.2 in October, driven primarily by services in Germany. In France, Prime Minister Lecornu gained short term political breathing room for budget negotiations by suspending pension reform, though the overall economic and political climate remained tense. Consumer sentiment remained cautious, as the savings preference indicator climbing to a record high, weighing on consumption and investment. 
Japan Neutral
Japan’s nominal wages rose 1.9% year‑on‑year in September, but real wage growth stayed negative at -1.4% as inflation accelerated on higher energy costs. New Prime Minister Sanae Takaichi’s pro-stimulus stance has raised market expectations for upcoming economic measures. She recently announced a new package of economic measures to ease the burden of inflation on households and to develop policies in several  industrial fields to drive growth. Japanese equities continued to rally, supported by expectations of expansionary fiscal and monetary policies under the new administration.
Asia Neutral
With U.S. interest rates trending downward and the dollar weakening, the trend of de-dollarization is likely to continue. Funds are gradually flowing into non-dollar risk assets, including Asian stock markets in Taiwan, South Korea, Singapore, Hong Kong, and Chinese Mainland. Asian equity markets are poised to benefit. Asia is also home to a wealth of AI-related companies, whose appeal and potential rival those of their U.S. counterparts. These Asia's AI and related sectors offer structural growth potential.
Bonds Underweight
The divergent views of Federal Open Market Committee (FOMC) members on December rate cut, the lack of U.S. economic data due to U.S. government shutdown, together with the huge bond issuance from mega U.S. tech companies for AI capex may weigh on U.S. rates’ performance in near term. Given the softening labour market and ongoing shelter disinflation, the U.S. Fed is likely to continue cutting interest rate.
 

The documents are available in Chinese only.


This document is prepared by BEA Union Investment Management Limited for information purposes only. BEA Union Investment Management Limited is not soliciting any action based upon this information, or giving any advice or recommendation. Neither this document nor any of its contents shall be construed as an offer, invitation, advertisement, inducement, undertaking, warranty, or representation of any kind or form whatsoever and BEA Union Investment Management Limited hereby expressly disclaims any liabilities in relation thereto.


The information contained in this document is based upon information which BEA Union Investment Management Limited considers reliable and is provided on an “as is” basis. Whilst every effort has been made to ensure accuracy, neither BEA Union Investment Management Limited nor any of its directors / officers accept any responsibility whatsoever for the accuracy, completeness, or timeliness of the information contained in this document. The information remains the property of BEA Union Investment Management Limited. Neither this document nor any of its contents should be copied or distributed to third parties without the prior written consent of BEA Union Investment Management Limited.


This document has not been reviewed by the Securities and Futures Commission in Hong Kong.


Issuer: BEA Union Investment Management Limited

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Retirement Calculator

This "Retirement Calculator" assists you in calculating the amount you need for retirement, helping you plan for your future

 
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Risk Tolerance Self-Assessment Questionnaire

Everyone has their own investment comfort zone and the challenge is to strike a balance among the various investments that will satisfy your personal circumstances. To help you find out more about your investment style, we have created this straightforward risk tolerance self-assessment test. By considering your personal circumstances, financial status, attitude towards investment, and certain objective factors which reflect your tolerance to risk, you may discover more about your investment needs.