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Top-Performing Asian Stock Markets Shrug Off Fed, China Risks

  • Indonesia, India stocks are beating Asia emerging-market peers
  • Foreign investors coming back to India after record exodus
The Jakarta Composite Index has gained almost 8% so far in 2022, steadily leading the pack throughout the year. 

The Jakarta Composite Index has gained almost 8% so far in 2022, steadily leading the pack throughout the year. 

Photographer: Dimas Ardian/Bloomberg

A case is building for Indonesia and India -- this year’s leading stock markets in emerging Asia -- to maintain their edge.

Both markets are benefiting from domestic demand that’s rebounding as the pandemic’s impact wears off, with the latest earnings season bringing positive surprises in key sectors. Slowing growth and macro risks in China is another reason for investors’ preference for these two destinations.