Asian stock markets are on course for a second consecutive month of losses, reflecting doubts about the post-pandemic recovery in China in particular, following weaker-than-expected factory activity in the world’s second largest economy. The MSCI’s Asia-Pacific index (outside Japan) was down 1% in early trading on 26 May, having fallen by 2.4% during the month as hopes for a stronger bounce-back in China have receded. Other factors mentioned include the likely inability of some advanced economy central banks to combat strong inflation, due to the uptick of China’s post-pandemic rebound.
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