Indonesian investors are understandably worried about the potential impact of the spreading pandemic on their holdings. If the experience of India is any guide, they should have some reason for confidence. India’s bonds, currency and stocks were all beaten down earlier this year as the outbreak raged across the nation but rebounded once an inflection point in cases was reached. Favorable positioning suggests Indonesia, which is now seeing daily infections exceed India’s, may be even better placed to bounce back once numbers level off. The spread of the virus took a heavy toll on Indian assets, especially once the tally of new cases jumped to nearly 400,000 a day in April from about 50,000 at the end of March. The rupee was Asia’s worst-performing currency that month, sliding 1.3%, with declines exacerbated by concern the central bank’s bond-buying plans would add to a liquidity glut. The benchmark Sensex slid as much as 4.7% in April by the time it reached its intraday
Indonesia Asia s new Covid epicentre | Daily Express Online - Sabah s Leading News Portal
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Indonesia s daily cases surge past India, marking new Covid epicentre
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