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Expand chart
Data: FactSet; Chart: Axios Visuals

Asia's improved economic outlook is helping push stock markets in the region ahead of U.S. equity indexes.

Details: In fact, Asian equities are performing better even as markets sell off, which is normally highly negative for Chinese and other emerging Asian markets traditionally seen as more speculative and risky.

What's happening: MSCI's index of Asian equities excluding Japan has outperformed its index of U.S. stocks year to date as Asian companies have weathered the recent slowdown better.

  • It's a far cry from the beginning of September when U.S. stocks hit their recent peak and the American index was outperforming its Asian counterpart by nearly 9%.

Why it matters: The far better recovery from the coronavirus pandemic in Asian countries is helping their financial markets bounce and draw more capital.

Between the lines: Asian stocks, and those in emerging markets overall, had strengthened more than comparable U.S. stocks as the dollar weakened earlier this year, but even in the face of recent dollar appreciation Asian stocks have held their ground.

  • Since Oct. 12, MSCI's index of Asian equity markets has outperformed MSCI's index of U.S. shares by more than 5% and outperformed MSCI's European bourse by more than 7%.
  • MSCI's all-country world index (ACWI), excluding U.S. stocks, has outperformed its all-country index including U.S. shares during that time.

Go deeper

Dion Rabouin, author of Markets
Dec 1, 2020 - Economy & Business

Everyone's bullish

Illustration: Sarah Grillo/Axios

Following positive vaccine news and the run-up in global equities punctuated last week by the Dow hitting 30,000 points, investors are again throwing caution to the wind and growing more uniform in their bets that stocks will continue to rise.

Between the lines: The resurgence of traders' risk appetite has some urging caution, as unanimity in either excitement or fear historically has proven to be a contrarian signal for the stock market.

3 hours ago - Science

The "war on nature"

A resident stands on his roof as the Blue Ridge Fire burned back in October in Chino Hills, Calif. Photo: Jae C. Hong/AP

Apocalyptic weather is the new normal because humans are "waging war on nature," the UN declared on Wednesday.

What they're saying: "The state of the planet is broken," said UN Secretary-General António Guterres, reports AP. “This is suicidal.”

Updated 5 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Health: Nursing homes are still getting pummeledU.S. could hit herd immunity by end of summer 2021 if Americans embrace virus vaccines, Fauci says.
  2. Politics: Pelosi, Schumer call on McConnell to adopt bipartisan $900B stimulus framework.
  3. World: U.K. clears Pfizer-BioNTech vaccine for mass rollout — Putin says Russia will begin large-scale vaccination next week.
  4. Business: Investors are finally starting to take their money out of safe-haven Treasuries.
  5. Sports: The end of COVID’s grip on sports may be in sight.