By Anushka Trivedi
Sept 22 (Reuters) – Stock markets in Indonesia, Philippines and South Korea declined more than 1% on Tuesday as rises in coronavirus cases locally and globally dampened hopes of a swift economic recovery.
South Korean stocks .KS11, dropped 1.7% to lead falls across Asia’s emerging markets, while Jakarta’s main index .JKSE slid as much as 1.6% to its lowest level in almost two weeks.
The number of infections in the Philippines rose another 3,500 to top 290,000 on Monday, while Indonesia reported a record jump in cases despite moves to lock down parts of its capital.
Sentiment on stock markets globally worsened on Monday as the imposition of curbs in a number of European countries, along with a possible delay in fresh U.S. fiscal stimulus, weakened the prospects for recovery, said Margaret Yang, a strategist at retail trading platform IG.
Banking stocks weighed