The India-China border tensions are unlikely to cap gains for Indian equities, said Mark Matthews of Bank Julius Baer. "There are greater forces propelling asset prices than this," he said.

Citing the US-China trade tensions as an example, Matthews said, “If we look back at last year, at the trade war between US and China - that was the main topic of discussion around this time last year. The market in the US and China was great."

On the so-called second wave of coronavirus, he said, “I think it is warranted. We didn’t expect this. The only point I want to make -- and I need to be careful with what I say because I am not sure what I am saying is correct -- is that several doctors have been commenting that they feel this virus is losing some of its potency. Doesn’t look like it is as fatal as it was when it hit the US shores back in February.”