Emerging markets lose their shine as vaccination rates lag developed world
The Edge 17 hrs ago Cheryl Poo © Provided by The Edge
MUCH has been said about advanced nations leading the recovery race on the back of higher vaccination rates. As it stands, the US is the key performer in global markets while Asia is relatively lagging behind, with a mixed outlook.
The disparity between developed and emerging markets is likely to remain for the rest of the year, suggesting that markets in the region may have little to offer investors.
“I have been covering Asia since the Asian financial crisis in 1997. It is quite rare to see such a variation in economic performances across the region. In our forecast, we see China’s economy slowing down in 2H and rebounding,” Nomura’s head of global macro research Rob Subbaraman says in a virtual conference on its “2021 Asia Economic, Currencies & Equities Mid-Year Outlook” last week.
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Follow RT on India’s Ministry of Finance has announced a 6.3-trillion rupee ($84.9 billion) relief package to support the nation’s economy in the fight against the Covid-19 pandemic.
The support measures, announced by Minister of Finance Nirmala Sitharaman on Monday, include the provision of loan guarantees of around $35 billion that are aimed at helping small businesses and sectors adversely affected by the pandemic.
According to Sitharaman, businesses in such sectors as health care and tourism are set to receive additional credit of $14.8 billion. Moreover, the emergency credit-line guarantee scheme will be expanded by another $20.2 billion (1.5 trillion rupees), from an earlier limit of 3 to 4.5 trillion rupees.
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