Indian Stocks Tumble The Most Since March 2020 With Modi's Party Set To Lose Majority
Indian Stocks Tumble The Most Since March 2020 With Modi's Party Set To Lose Majority
The Indian stock market experienced its most significant daily drop since March 2020, as the coalition of current Prime Minister Narendra Modi is predicted to lose its majority in Parliament.
印度股市經歷了自2020年3月以來最大的單日跌幅，因爲預計現任總理納倫德拉·莫迪的聯盟將失去在議會中的多數席位。
The Nifty 50 index, which comprises the 50 largest Indian companies by market capitalization, closed down by 5.9%, marking its worst performance since March 23, 2020, when it plummeted by 13%. This decline more than reversed the 3.3% gain from Monday's session.
由市值最大的50家印度公司組成的Nifty 50指數收盤下跌5.9％，這是自2020年3月23日暴跌13％以來的最差表現。這種下跌完全扭轉了週一交易日3.3％的漲幅。
Chart: India's Major Stock Market Index Faced Worst Day Since Covid-19 Breakout
圖表：印度主要股市指數面臨自Covid-19爆發以來最糟糕的一天
US-based investors are expected to witness heightened volatility on Tuesday for exchange-traded funds (ETFs) tracking Indian stocks.
預計週二美國投資者將目睹追蹤印度股票的交易所交易基金（ETF）的波動加劇。
The iShares India 50 ETF (NYSE:INDY) was down more than 6.6% minutes after the U.S. market opened, while the Invesco India ETF (NYSE:PIN) fell by 6.7%.
在美國市場開盤幾分鐘後，iShares印度50指數ETF（紐約證券交易所代碼：INDY）下跌了6.6％以上，而景順印度ETF（紐約證券交易所代碼：PIN）下跌了6.7％。
This is the second negative reaction by emerging market assets following election results this week. On Monday, the Mexican peso and stocks saw a violent sell-off after Claudia Sheinbaum's landslide victory in the presidential elections.
這是繼本週選舉結果之後新興市場資產的第二次負面反應。週一，在克勞迪婭·辛鮑姆在總統大選中取得壓倒性勝利之後，墨西哥披索和股市遭到猛烈拋售。
India Now Faces Political Uncertainty
印度現在面臨政治不確定性
Narendra Modi has served as Prime Minister of India since May 2014. In the previous 2019 elections, his party, the Bharatiya Janata Party (BJP), secured 37.36% of the votes, which, along with its coalition, achieved a large majority in Parliament.
納倫德拉·莫迪自2014年5月起擔任印度總理。在之前的2019年選舉中，他的政黨印度人民黨（BJP）獲得了37.36％的選票，該黨及其聯盟在議會中獲得了絕大多數席位。
So far, the BJP coalition has obtained 239 out of 543 seats in the Lok Sabha, India's Lower House, losing 18 seats compared to the 2019 elections and falling short of the required majority of 272.
到目前爲止，印度人民黨聯盟已獲得印度下議院人民院543個席位中的239個席位，與2019年選舉相比失去了18個席位，未達到272個法定多數席位。
Furthermore, this outcome is a significant setback for Modi, who had aimed to secure 400 seats during his campaign.
此外，這一結果對莫迪來說是一個重大挫折，他在競選期間的目標是獲得400個席位。
"A Modi 3.0" will still happen, albeit with a slimmer mandate and with help from allies, according to DBS Bank Economist Radhika Rao, as reported by Bloomberg.
據彭博社報道，星展銀行經濟學家拉迪卡·拉奧表示，儘管授權範圍較小，而且有盟國的幫助，“莫迪3.0” 仍將發生。
As reported by The Times of India, Rahul Gandhi, the face of the opposition and would-be prime minister, said the preliminary results show that India does not want Modi.
據《印度時報》報道，反對派的代言人、即將上任的總理拉胡爾·甘地表示，初步結果表明印度不想要莫迪。
"People's clear message to PM Modi and Home Minister Amit Shah is that we don't want you to run the nation," Gandhi said.
甘地說：“人們向莫迪總理和內政部長阿米特·沙阿傳達的明確信息是，我們不希望你管理國家。”
The final Indian election results are expected to be announced on Tuesday afternoon.
印度大選的最終結果預計將於週二下午公佈。
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照片：Shutterstock