Covid second wave: investing in Asia
As elements of the world brace for a second wave of Covid-19 infections, the financial affect on Asia will doubtless be “restricted” because the area will stay resilient, in keeping with a Credit score Suisse strategist.
“I believe clearly Asia goes to be resilient within the face of a second wave in developed markets within the West,” stated Dan Fineman, co-head of fairness technique for Asia Pacific on the Swiss financial institution.
The U.S. is seeing a surge in coronavirus circumstances once more in latest days, whereas some countries in Europe are also seeing another sharp spike.
“We have to take a look at the shift in consumption patterns that has occurred within the West for the reason that Covid pandemic started. Though companies spending has cratered in quite a lot of nations because the pandemic hit, we have seen a shift of consumption patterns away from companies in the direction of items — and that has enabled Asian exports to enhance in latest months,” he stated.
“So long as that shift in consumption patterns within the West continues away from companies in the direction of items, truly…