Asian stocks trail their US peers for third week, shows data

Expectations for Asian stocks to outperform their US peers for a second year running in 2021 have taken a hit in recent days, with the MSCI Asia Pacific Index set to lag the S&P 500 index for a third week in what will be the longest such streak since October.

While a rout in Chinese equities and global concerns about rising Treasury yields have weighed on shares in Asia, the US market is seen getting a boost from an impending $1.9 trillion stimulus plan. That said, Thursday’s strong rebound in China offers promise for Asian stock bulls, even as the regional gauge trails the S&P 500 on a year-to-date basis.