PineBridge Investments, Taiwan

17 Oct

2016

PAGE 1

I.

II.

III.

IV.

PAGE 3

Bloomberg2016/10/14%

-

-3.25

-2.59

-2.38

-2.04

-1.94

-1.90

-1.78

-1.52

-1.38

-1.18

-1.09

-0.96

-0.61

-0.02

0.09

0.42

0.85

1.08

1.69

1.97

0.62

0.18

0.81

0.36

1.34

1.29

1.33

1.17

-2.46

0.21

2.95

0.34

3.95

1.46

0.45

4.93

1.95

8.25

8.43

2.03

H

MSCI

MSCI

MSCI

RTS

SET

MSCI

500

200

Nikkei 225

600

DAX

BOVESPA

MSCI

PAGE 4

Bloomberg2016/10/14%

-

-3.03

-2.05

-1.82

-1.21

-1.00

-0.80

-0.80

-0.76

-0.54

-0.17

0.42

0.48

1.44

-0.01

-2.47

-0.87

-1.68

3.59

-0.13

0.23

-0.76

-0.89

0.13

1.98

4.31

2.82

PAGE 5

Bloomberg2016/10/14JPJACI%

-

-0.80

-0.48

-0.31

-0.28

-0.19

-0.18

-0.17

-0.16

-0.14

-0.11

-0.10

-0.03

-0.03

0.08

0.10

0.28

0.77

0.48

-0.55

0.90

0.46

-0.06

0.12

-0.13

-0.19

0.82

0.01

0.51

0.24

1.32

1.75

0.56

-

-

-

PAGE 6

Bloomberg2016/10/14%

-

-2.84

-2.16

-0.44

0.00

0.04

0.60

0.61

1.08

2.79

4.27

5.36

6.65

-0.70

-2.02

-5.41

5.61

13.30

2.09

5.56

15.53

6.55

6.78

3.66

4.47

LME

LME

LME

CRB

LME

PAGE 7

MOVE VIX

Bloomberg2016/10/14

-VIX

8bps1.80%3.40%VIX19.58%16.120.71%9.77(Bloomberg2016/10/14)

1.0

1.2

1.4

1.6

1.8

2.0

2.2

2.4

2.6

30

40

50

60

70

80

90

100

110

120

130

Jan-15 Apr-15 Jul-15 Oct-15 Jan-16 Apr-16 Jul-16 Oct-16

3.0

5.0

7.0

9.0

11.0

13.0

15.0

5

10

15

20

25

30

35

40

45

50

Jan-15 Apr-15 Jul-15 Oct-15 Jan-16 Apr-16 Jul-16 Oct-16

S&P500 VIX G7 FX

PAGE 9

10123154261514

10122328625

2016/10/13

PAGE 10

2016/10/13

-

10122.500.1%3.420.1%

10129.490.3%

Q3ECB

Q3 GDP 10/19 10/20 ECB

PAGE 13

: Bank of Japan2016/09/21

QQE

QQE

QQE:

1. 0.1%(QQE)

2. : 810

3.

4. 2%22%

:

1. +CPI2%

2. +=

3.

4.

?

PAGE 14

: () Haver Analytics, Nikkei NEEDS, BoJ, MIC, DB Global Markets Research2016/08/19() MHLW, BofA Merrill Lynch Global Research2016/10/14

(Output Gap)

(Output Gap)

PAGE 15

: Bloomberg2016/10/14

22%

CPI (, )

CPI

16CPI22%

(1)2008CPI2%CPI

(2)2014CPI(CPI)2%CPI

PAGE 16

: Statistics Bureau, Bloomberg, BofA Merrill Lynch Global Research2016/10/14

CPI()

CPI(, )

CPI()CPI()CPI

CPI2013-2015619CPI

PAGE 17

Bloomberg2016/10/14

Fed

225

JASDAQ

2015/12/31100

PAGE 18

PineBridge Investments IP Holding Company Limited

()

101013

10414410 (02)2516-7883

407386128 (04)2217-8168

8026171(A5) (07)335-5898

TR 105157

PAGE 19

()

Rule 144A