"Investors are viewing this setback as a broader loss of faith in the Trump administration's ability to deliver on other campaign pledges - namely tax and spending policies, which have underpinned asset prices since the U.S. elections," said ING currency strategist Viraj Patel, in London.U.S. "The markets are continuing to unwind the Trump premium," said BMO Capital Markets currency strategist Stephen Gallo, in London. "We probably are aiming for the (Nov. 8) pre-election lows...that's probably a viable target. "In Asian trading, falls in stock prices were more moderate, with MSCI's broadest index of Asia-Pacific shares outside Japandown 0.1 percent after posting its first weekly decline last week in three weeks.In terms of relative valuations, U.S. stocks are trading well above their historical averages while Asia stocks are still broadly in line with theirs despite a recent bounce. "Any big pull back in markets would be an opportunity for long term investment in a region where potential is still intact," said Nicholas Yeo, head of China/Hong Kong equities at Aberdeen Asset Management in Hong Kong, part of a team that manages $374 billion in assets as of end-December 2016.Japan's Nikkei, though, fell 1.5 percent as the yen rebounded in the face of renewed U.S. dollar weakness.Following the defeat on U.S. healthcare legislation on Friday, the White House warned rebellious conservative lawmakers on Sunday that they should get behind Trump's agenda or he may bypass them on future legislative fights, including tax reform.

Source: Economic Times March 27, 2017 08:41 UTC