Slumping business activity to outflows of funds, it's a Déjà Vu of March 2020 for business news headlines. Foreign investors have sold over $1.1 billion worth of equities in April, the biggest outflow since March last year when the nation went into lockdown.
Meanwhile brokerage house Nomura highlighted that business activity suffered its steepest weekly fall in over a year and also warned that with more states extending restrictions, sequential momentum is likely to remain weak over the next month.