Hong Kong Fund April average 9.48% performance 16 years Best

Lipper Thomson Reuters Lipper, a fund research agency, released excerpts from the Hong Kong recognised fund's April performance: Hong Kong recognised trading fund rose by an average of 9.48% in April, the largest monthly average return since December 1993. Equity funds have again surpassed all other categories in the month, achieving a 13.29% average positive return. Mixed-fund performance was second in April, with an average rise of 6.57% per cent.　　Bond funds rose 3.37% on average this month.　　In April, five listed trading funds (ETFs) were launched, allowing the sale of ETFs in Hong Kong to reach 29, with a total asset size of $14.83 billion as at April 30, 2009.　　A strong rebound in equity markets, improved investor confidence and widening spreads on three-month Treasury bills and 10-year U.S. Treasuries all showed a return to the bull market. Yet an expanding economy is crucial to boosting the bull market.　　Some key economic indicators – the US non-farm workforce, U.S. capacity utilisation and U.S. housing starts – have yet to show that the US economy will return to expansion or that the US recession has ended. With regard to the recent market, the global stock market is now over bought, and its action can seem to begin to weaken. Based on this, there may soon be a profit-making sale and a pullback in the trend.　　If the stock index's pullback is limited, and it is able to keep up with the years of low levels reached in early March without falling below, the pullback will help solidify the bottom of the stock market and provide a solid bottom brace for the bull market. The rally in global equities has increased further in April, as economic indicators and corporate performance reports, which outperform market expectations, have helped to bolster confidence that the worst of the global downturn may be over. The Reuters/University of Michigan April consumer confidence index rose for the second consecutive month, from 57.3 in March to 65.1. The American Institute of Supply Management (ISM) manufacturing index April, although still far below the 50 per cent of the wing blight Watershed, was the highest since October 2008, the sharpest contraction in six months, as a sharp decline in inventories helped to boost the order and production of the sub-item. Looking at the company's results, more than 50% of the European Stoxx 600 stock indexes and about 70% of the standard and Poor's 500 index have reported Better-than-expected results in the first quarter of 2009.　　Moreover, the new swine flu outbreak has failed to stop global stock markets from rising, as the deadly effects of influenza on human health do not seem as severe as initially envisioned. Government bond prices fell in April as the global economy showed signs of stabilisation and global stock markets rebounded more kinetic energy. Moreover, the accelerated issuance of bonds by Governments has also put downward pressure on government bonds. Yields on 10-year U.S. Treasuries and gilts climbed 16.9% and 10.8% respectively in April. Market flows reflected by signs of stabilisation in the global economy, Better-than-expected corporate earnings, and falling Libor ratesThe improvement in the movement has helped rekindle investors ' interest in chasing higher credit-risk assets. In view of this, emerging market bonds and High-yield bonds rose in April. JPMorgan's emerging-market bond, the global index, climbed 5.6% in the month, while the two-year US corporate bond rating of BBB fell 5.7% per cent.