Global brokerage firm Morgan Stanley has upgraded India to ‘Overweight’ rating saying the country’s reform and macro-stability agenda supports a strong capital investment and profit outlook. At the same time it has cut China’s rating.
“India is arguably at the start of a long wave boom at the same time as China may be ending one,” Morgan Stanley analysts said in the report.
The brokerage company cut its rating on Chinese stocks to equal weight, saying investors should take in profits to capitalise on a rally triggered by government stimulus pledges.
Chinese stocks have shot up in recent days on the back of promises from the Communist government to spur growth and revive the nation’s private sector which has gone into a downturn. But these measures are likely to come piecemeal which may not be enough for shares to sustain gains, according to the Morgan Stanley report.
Indian stock markets are going through an unprecedented boom on the back of strong growth in the economy which is considered one of the global bright spots.
The International Monetary Fund recently raised its 2023 growth forecast for India, citing stronger growth in the fourth-quarter of the financial year ended March 31 this year, that was powered by domestic investment.
Investments by the government in large infrastructure projects such as highways, railways and ports have had a multiplier effect on the economy with the demand for commodities such as steel and cement picking up. More jobs have also been created which has spurred consumer spending adding to the growth momentum.
The officials from the Indian Embassy in Israel paid their last respects to Colonel Waibhav…
Union Home Minister Amit Shah said that the rise in voter turnout from 14 per…
Taiwan's Ministry of National Defence (MND), on Friday, detected eight Chinese aircraft and eight People's…
China's cyberattacks against Taiwan have increased to the extent of 2.5 million a day ahead…
India is becoming the manufacturing hub of the world, said Union Minister Ashwini Vaishnaw while…
India has emerged as the global leader in mobile wallet payments, with 90.8 per cent…