The reopening trade in China has undoubtedly galvanised Asian equities, but how can investors position for the next move in markets? Catherine Yeung, Investment Director for Fidelity Asian Values PLC, reviews the current environment and highlights why recent market movements underscore the importance of disciplined stock selection to capture long-term value.

A more benign economic backdrop and supply constraints within the physical property sector have supported a positive start to 2023. Where do we go from here?

Following a challenging 2022, portfolio manager Nick Price provides an update on Fidelity’s Emerging Markets strategy. He reviews recent performance drivers and outlines how the strategy is positioned to capture emerging investment opportunities, particularly relating to China’s reopening.

Rising inflation and interest rates, in combination with geopolitical concerns concentrated around the war in Ukraine and zero-Covid policy in China, weighed on global equities in 2022. As we look ahead, it is clear that the outlook for inflation and interest rates will continue to be key market drivers in 2023. However, inflation appears to have moved past its peak and the focus is now turning to its persistence. This will inform how soon central banks shift from hiking rates towards a more accommodative stance.

Are we really living in abnormally volatile times? Is the negative sentiment in markets extreme or warranted? Investment Trusts.

There is a lot to ponder as a portfolio manager today. Expansionary fiscal initiatives from the new Chancellor, Kwasi Kwarteng, have heightened worries about a further widening of the already huge UK current account deficit, Sterling has set a new all-time low against the US dollar and the International Monetary Fund, in a very unusual move, has advised the UK government that its November budget presents an early opportunity to “re-evaluate” the new tax measures.