Amundi Asia Pacific Market Monthly Commentary - June 2021
Tuesday 18 May 2021
Global markets performed strongly in April, despite the COVID-19 situation in India posing uncertainty over the effectiveness of vaccines. COVID-19 cases in UK and US showed an improving trend, given that vaccination programmes went well in both countries. On the other hand, India’s second wave is quite serious, raising concerns over the resurge in the number of cases worldwide if vaccines are less effective toward this new variant of the virus. Meanwhile, US President Joe Biden unveiled his next USD 1.8 trillion stimulus package focusing on universal preschool, free community college, national paid leave program and child care spending caps. Against this backdrop, MSCI Asia ex Japan was up 2.41% in April (in USD terms, net dividends excluded), underperforming the MSCI World Index which gained 4.52% during the month (in USD terms, net dividends excluded).