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Traders Dump Asean Stocks on Fears Omicron Will Hammer Region

  • Southeast Asian stocks are underperforming on new variant
  • Omicron could further push back reopening: JPMorgan Private
Bloomberg business news
WATCH: Jun Bei Liu, portfolio manager at Tribeca Investment Partners, discusses the outlook for Asian markets and economies.Source: Bloomberg
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Emerging-market traders are taking the once-bitten, twice-shy approach with Southeast Asia and omicron, dumping shares from the region that was most impacted when the delta variant arrived.

The MSCI AC Asean Index has fallen about 4% since U.S. Thanksgiving -- when omicron first made its presence known in markets -- underperforming the near 2% decline in Latin American shares and tiny gain in Eastern European equities. The gauge of southeast Asian stocks slumped almost 7% in the two months after the delta variant was officially named at the end of May.