Asian stocks jittery ahead of Fed meeting; virus cases in India dip

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BENGALURU: Asian stocks lacked direction on Tuesday, as a surge in virus cases in the region and the U.S. Federal Reserve's meeting this week kept investors on edge, while stocks in India gained after new coronavirus cases in the country retreated from Monday's record levels.

Indian equities rose as much as 1% to hit an over 10-day high, with industrials leading the gains, as investors awaited a slew of quarterly results later in the day.

"A lot of hope is riding on the vaccination drive in these countries to stem the spread of COVID-19 but so far, the pace of vaccinations has been slow and in the case of India, unable to keep up with the rapid outbreak," she added. "We are seeing surging coronavirus cases in Malaysia... And the trend seems to be rising," said Margaret Yang, strategist at DailyFX.

 

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