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Weekly Market Directions

The great mid-term rotation

Over the past few weeks, we have seen a rotation away from US tech due to scrutiny of the massive capex and results of the US mid terms.

	Horizontal bar chart showing one-month equity market performance rotation. Nifty 50 leads with +10.8%, followed by MSCI World Defensive (+5.2%), STOXX Europe 600 (+3.2%) and Hang Seng (+1.0%). Nasdaq (-10.2%), Nikkei 225 (-14.9%) and Phil. Semiconductors (-25.3%) lag.

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