What's Hot? What's Not: China Dominates, India And The US Struggles. Commodities In Decline. [Sector Edition]

What’s Hot

• China was by far the best-performing sector, with government stimulus continuing to boost the market and sentiment turning positive.
• The rest of the list shows only modest gains, but nonetheless, both Europe ex-UK and incl. UK saw gains over the month reflecting a solid start to 2025 for the region.
• A few fixed income sectors made the list with small gains, as credit markets remained relatively stable.

What’s Not

• India was hit hardest over the month as foreign investors continue pulling money out.
• The US as a whole struggled, driven by a tech sell-off and underperformance in US Smaller Companies, made worse by uncertainty around Trump’s policies on tariffs and beyond.
• Commodities overall struggled, with oil heading for its biggest monthly decline since September 2024 amid growing economic concerns and broader market uncertainty.

What’s Hot

What’s Not