Amundi Asia Pacific Market Monthly Commentary - September 2021

Tuesday 19 October 2021

Market Commentary

Global equity markets dropped significantly in September amidst higher inflation prints, risks of an earlier-than-expected tightening in policy rates and tapering of stimulus measures by major central banks. The ongoing supply-chain challenges for products such as semiconductors have also lifted inflation anxiety across global markets. Chinese growth data broadly surprised on the downside, mainly driven by regulatory tightening such as China’s new private tutoring rules and regulations on the technology sector. MSCI World and MSCI Emerging Markets Index also weighed down by the spill-over risks of giant Chinese property developer, Evergrande’s credit crisis. Against this backdrop, MSCI Asia ex Japan Index was down 4.36% in September (in USD terms, net dividends excluded), slightly underperforming the MSCI World Index which dropped 4.29% during the month (in USD terms, net dividends excluded).


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