BENGALURU: Indonesian shares jumped nearly 1% on Wednesday to lead gains among most emerging Asian equities, as China Evergrande's promise to pay some bond interest calmed nerves, while Singapore stocks hit four-month lows due to a spike in COVID-19 cases.
Shares in Manila moved further away from multi-week lows and equities in Jakarta were set for their best day since Aug. 30 after Evergrande allayed fears of an imminent collapse.
Markets had already begun to stabilise on Tuesday as analysts downplayed the potential fallout from the Chinese property giant's debt crisis and saw that relief seep into Wednesday.
Jakarta's benchmark also bounced after Bank Indonesia (BI) kept interest rates at record lows and backed its 2021 growth forecast on Tuesday, even though coronavirus curbs likely hampered economic growth in the third quarter.
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