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Moneycontrol Pro Panorama | Indian stocks sitting pretty, but Asia feels the China chill

In today’s edition of Moneycontrol Pro Panorama: It's advantage India amid China-Australia trade faceoff, small insurers accorded space to grow, shift in energy balance has to be fair, migrant footballers add spark to FIFA World Cup, and more

November 28, 2022 / 03:31 PM IST
Representative image

Representative image

Dear Reader,

The Panorama newsletter is sent to Moneycontrol Pro subscribers on market days. It offers easy access to stories published on Moneycontrol Pro and gives a little extra by setting out a context or an event or trend that investors should keep track of.

You won’t know it if you see domestic stock indices and for most investors, that’s what matters. The Nifty is in the green as of noon, while there’s red elsewhere in major Asian markets. The root cause appears to be China, which is going through a state of unprecedented turmoil. Its citizens are protesting openly against the restrictions being imposed on them in the name of preventing the spread of COVID-19.

The country is seeing a situation in the pandemic most other large economies have already faced in recent years. COVID cases are rapidly rising in China, coinciding with opening up of mobility and economic activity. This could then lead to cases spreading further, followed by hospitalization or worse. Eventually, the disease peaks and then it’s a slow trudge back towards normalcy. Once the population attains a certain degree of immunity, then life appears to return to normal, at least for the economy.
But China’s zero-COVID policy has meant it has not seen the pandemic spread through its population. Vaccination coverage too has been less than desired. Now that it’s opening up, cases seem to be spreading and local authorities are clamping down again, but the people are in no mood for it. While the sight of workers in factories protesting at being locked up was one thing, seeing citizens coming out on streets to protest was stunning in a nation that’s ruled with an iron hand. In today’s edition, The Eastern Window looks into what has ignited these protests and how the government is attempting to placate the people and whether harsh measures will come. After all, if left unchecked people may soon begin to call for a systemic change that can become a threat to the leadership. Read to know more.