Asia-Pacific markets set to fall, taking lead from Wall Street's losses
Some analysts look at Apple, the largest market cap stock, as a bellwether for the overall market and a major influence on investor sentiment.
"If your largest weight is weak and making new lows, that's not great. Your top player is not scoring," he said. Sohn said the five largest market cap names are still losing steam. "The silver lining is the influence on the index is dropping."CNBC Pro: China eases its Covid restrictions. That could spell a buying opportunity in these stocks
Investors have taken recent developments as a signal to start snapping up China equities. They expect that China's economy could get a boost in 2023, while the U.S. and Europe continue to deal with the lagging effect of monetary tightening that could put a damper on economic growth.
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