Market sentiment turns cautious in Asian session on Monday opening

The stock markets in Asia Pacific region are generally weak, following the US stocks retracement last Friday.

The global pandemic remains severe, with a cumulative total of 720000 confirmed cases worldwide. Last week, after experiencing a three-day massive rebound, investors are turning back to watch the situation of the epidemic. It is likely that investors will be more cautious in portfolio management this week.

Even though the U.S. House of Representatives approved the biggest economic stimulus plan in U.S. history on Friday and US President Trump has quickly signed it, market sentiment was still weak. The US has surpassed China and Italy as the country with the most infected case, increasing investor concerns about the US economy and the global economy.

Due to the epidemic situation, the dollar was obviously under pressure last week, and the dollar index fell below the 99 level, reaching a low of 98.27. However, the dollar rebounded on Monday’s opening, reflecting rising risk aversion. Investors may be once again shifted their focus to the epidemic issue.