“The CLSA report should not get you unduly excited a) it is CLSA and not CIA; b) In my opinion investors were selling India not to buy China but to buy USA,” read Arora’s post on X.
The CLSA report should not get you unduly excited
a) It is CLSA and not CIA
b) According to me investors were selling India not to buy China but to buy USASeparately, the India to USA shift trade is mostly 10-15% lower in average Indian stocks and average US…
— Sameer Arora (@Iamsamirarora) November 15, 2024
He noted that with Indian stocks up 10-15% and US stocks up 10% since late September, India-to-USA trade is likely to shift, meaning those looking to trade now have already missed the 25% swing. .
Furthermore, they believe that India-USA trade is dead now.
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On Friday, global brokerage firm CLSA increased its ‘overweight’ on Indian stocks and reduced its allocation to China in its Asia Pacific portfolio, reversing its switch from Mumbai to Shanghai in October following a run in Chinese equities.
An escalation of the trade war with the re-election of Donald Trump as US president, doubts about the strength of the rally in Chinese stocks and less-than-expected stimulus by Beijing are reasons for reversing its optimism around China, it said.
Also Read: Trump 2.0 and Its Impact on 3I: Interest Rates, Inflation and India
“We over-committed in early October by tactically shifting some of our overexposure to India to China, reducing our India overweight to 10% from 20% at the time and increasing our China allocation to 5% overweight from benchmark. We now reverse that trade. ,” CLSA said.
The global brokerage firm also said that India has seen strong foreign investor selling since October, while investors it found this year are particularly looking forward to such buying opportunities to address Indian underexposure.
Domestic appetite remains strong, offsetting foreign fears, and valuations, though expensive, are now a bit more palatable, he said.
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(disclaimer: Recommendations, suggestions, opinions and views given by experts are their own. (These do not represent the views of The Economic Times)
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