Top Asia Pacific equity picks take a tumble
Our top equity picks in Asia Pacific fell 1.1 percent over the past week, in line with the MSCI Asia Pacific index. These were driven by declines in Nomura Holdings, Sumitomo Mitsui Financial and Mitsubishi UFJ (see chart below). The drop in the portfolio's bank stocks was primarily driven by the general sell-off in financials and, specifically, Nomura, which saw a more sizeable downturn due to its exposure to the Espirito Santo Financial Group (shares are still halted for trading).
-- Edited by Kevin McIndoe
Peter Garnry is the Head of Equity Strategy at Saxo Bank. Please check out his articles and trades here.