Asian equities have seen heavy foreign outflows since the start of this month on concerns about China's property sector and on expectations that major central banks would raise interest rates soon amid concerns about rising inflationary pressures.
"For Asia, the combination of increasing uncertainty in China's growth and a mega Chinese developer entering into distress has brought a lot of uncertainty in the market ” said Chang Wei Liang, Credit & FX Strategist at DBS Bank. Investors were also anxiously looking to a key U.S. payrolls report at the end of this week that could boost the case for the Federal Reserve to start tapering stimulus as soon as next month.
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