Indonesia's Covid-19 surge has nervy traders recalling India stock rebound

New daily cases climbed to a record 54,517 on Wednesday, higher than India's, while the seven-day moving average jumped to 41,521 from less than 6,000 at the end of May

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