Amundi Asia Pacific Market Monthly Commentary - October 2021

Thursday 18 November 2021

Market Commentary

Global equities performed well in October as earnings buoyed sentiment in the US and Europe. Southeast Asian economies picked up thanks to the loosening of social distancing rules and accelerated vaccinations. That said, higher inflation may last longer than previously expected and well into next year as supply-chain bottlenecks persisted due to energy prices spike. A combination of factors including the resurgence of US-China tensions over COVID-19, trade and cybersecurity, as well as sequential downgrades on China’s growth forecast also weighed down on sentiment. Against this backdrop, MSCI Asia ex Japan Index was up 1.32% in October (in USD terms, net dividends excluded), underperforming the MSCI World Index which went up 5.59% over the month (in USD terms, net dividends excluded).


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