$S&P Global(SPGI.US) rose slightly, $CCB(00939.HK) basically didn't move, $AIA(01299.HK) dipped slightly, and $ZA ONLINE(06060.HK) fell by four or five percent.
Within the financial sector, they are ranked by "proximity to market volatility": rating and index businesses enjoy steady returns regardless of conditions, banks have interest margins as a floor, while small-cap insurance tech stocks take a beating directly alongside growth stocks.
During periods of rising volatility, the defensive hierarchy among financial stocks becomes clearer. Is your financial position on the side that collects rent, or the one with elasticity?
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