Stocks are bouncing back although rising numbers of Covid-19 infections outside of Europe, particularly in Japan and India, continue to dominate the headlines and weigh on stock markets in Asia Pacific.
Helping to offset the drag from the pandemic was a slightly lower-than-expected CPI print in the UK.
“Pandemic concerns have provided markets with an excuse to book some of the last week’s profits. Rich valuations, notably in the US, mean that even as corporate America rolls out the juicy earnings as expected, investors will be asking themselves, “what’s next?” That is a valid point when one ponders the implications of the Biden administrations taxation plans,” Oanda Senior Market Analyst for Asia Pacific, Jefrrey Halley, told clients.
Jarvis Investment Management Ltd offers a wide range of stockbroking and administration services and solutions. Their parent company, Jarvis Securities plc (LON:JIM) is listed on AIM.