Emerging market stocks struggle amid surge in Covid-19 infections

By Reuters10 days ago

LONDON: Emerging market stocks struggled to make headway on Tuesday as Taiwan and India wrestled with rising COVID-19 infections, with the latter seeing cases surge past 20 million.

Taiwan's main stock index, one of the strongest performers in Asia so far this year, was 1.7% down in a second consecutive day of heavy losses, amid a rare rise in infections.

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In choppy trade, India's NSE Nifty 50 index added 0.3% as encouraging corporate earnings were offset by uncertainties around the pandemic.

Indian opposition leader Rahul Gandhi called for a nationwide lockdown after the world's biggest surge in coronavirus infections has seen the country become the second to pass the milestone of 20 million cases, after the United States.

(Indian) markets will likely remain choppy for some time because of the uncertainties around the pandemic. Investors will be waiting for clarity on the vaccine situation, plateauing of cases and whether we will see a central level lockdown again, said Aishvarya Dadheech, fund manager at Ambit Asset Management.

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