The MSCI Asia Pacific Index, the benchmark Asian stock index, erased more than 10 per cent gains in 2021 for the second time since May, as investors assess the impact of changes in novel coronavirus on the regional economy.

The hang Seng china enterprises index is down nearly 10 per cent so far this year, while Malaysia's composite index is down about 7 per cent. The two sub-indices of health care and consumer necessities had the largest declines, each falling by more than 6 per cent.