Amundi Asia Pacific Market Monthly Commentary - May 2020
Thursday 19 March 2020
The global spread of Coronavirus (COVID-19) cases led to a significant sell-off across global equity markets amidst weaker consumer confidence and subdued demand. Investors priced in a severe drag to global growth and the corporate earnings outlook. Heightened global travel restrictions also impacted economies highly dependent on tourism. Amidst this uncertainty, the MSCI World Index lost -8.59% (in USD terms, net dividends excluded), underperforming the MSCI Asia ex Japan Index which fell -2.91% (in USD terms, net dividends excluded) and was helped by gains from Chinese equity markets.