Medium-term prospects for the region also continue to weigh on shares in Asia. The MSCI regional benchmark is still well off all-time highs, unlike equity markets in the U.S. and Europe.
"The Asia Pacific region – following a zero-tolerance pandemic policy and reliant on exports for growth - could underperform as global demand for goods softens and social distancing restrictions in many APAC cities are reimposed," said David Chao, Global Market Strategist, Asia Pacific at Invesco "This, coupled with the region's much lower vaccination rate, could lead to a continued cycle of lockdown and releases."retreated from a record high after seven consecutive days of gains.
U.S. shares had slipped, said analysts at ANZ in a note, on concerns that the U.S. economy may be starting to slow following "the weaker-than-expected jobs data on Friday evening after which markets were closed for a long weekend." In Europe, meanwhile, they said, "markets are focused on whether the European Central Bank will begin to scale back its bond purchase programme."
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