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COVID-19 pandemic wave has been sweeping through APAC with
unprecedented disruption in the first half of 2020. As the region
is entering the post-peak pandemic phase with businesses and
consumer activities picking up, we aim to examine the impacts of
COVID-19 on the region's most liquid indices through the lens of
Dividend Index Points (DIPs).
Total DIPs (actual and forecasted DIPs combined) of 2020 are
measured in three different phases of the pandemic - early stages
of outbreak (as of February1st 2020), during the peak (as of April
1st 2020) and post-peak (as of July 1st 2020) respectively. The
total DIPs for S&P ASX 200 (AXJO), Hang Seng Index (HSI), Hang
Seng China Enterprises Index (HSCEI) and Nikkei 225 (N225) declined
as corporates either announce or indicate dividend cuts due to the
weak earnings outlook. As of July 1st, DIPs of ASX 200 fell by 28%
from 272.6 on February 1st, 2020 to 197.2 in early July, while
HSI's DIPs slid down 22% from 1042.1 to 815.7 during the same
period. HSCEI and N225 showed a moderate drop of 8% respectively,
led by the stable payout practice in mainland China and a strong
commitment to shareholder return shared among key Japanese
companies.
To access the report, please contact
dividendsapac@ihsmarkit.com
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