Calm before the storm
It looks like a quiet start to the week in Asia on Monday, but don't be fooled - it may be the calm before the storm.
A raft of regional economic indicators including Japanese unemployment and PMIs from China, Australia and India, as well as U.S. non-farm payrolls and U.S., euro zone and UK interest rates decisions will surely provide fireworks later in the week. In that light, investors on Monday may opt to reduce exposure to the glut of event risk, especially with month-end approaching and given how far stocks have risen since the turn of the year.
The MSCI Asia ex-Japan index is at a nine-month high and up more than 30% from the October low. It has risen in 11 of the last 13 weeks and is on course for a monthly gain of 11%.That's comfortably outperforming the S&P 500, euro zone and UK stocks, Japan's Nikkei 225 and the MSCI World index, so a little profit-taking may be on the cards.
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