The spread of the more transmissible delta variant has pushed daily Covid-19 cases to record highs in Indonesia, Malaysia and Thailand in recent weeks.
Microsoft believes the recent attacks drew on malware from a company based in Israel, rather than a hacking group associated with a country's government.
If macroeconomic momentum in Asia starts to stabilize, stocks in the region could move a lot higher, said Mixo Das, Asia equity strategist at JPMorgan.
Chi Lo, an economist at BNP Paribas Asset Management, said China's moves will improve the country's economic structure, capital markets and governance.
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