Amazon released new feature - to support regional api endpoints
Does it mean I can deploy my same API code in two regions which sends request to Lambda micro-services?
It means you can deploy your API based on the region which reduces latency.
One use case would be, Say you have a Lambda function which is invoking an API request. If both Lambda and API is in the same region then you can expect high performance
Please have a look on https://docs.aws.amazon.com/apigateway/latest/developerguide/create-regional-api.html