Global head of equity strategy at Jefferies, Christopher Wood, has cut his exposure to Indian equities by one percentage point in the Asia-Pacific ex-Japan relative-return portfolio, and Australia and Malaysia by half a percentage point each in favour of China, which has seen a hike in exposure by two percentage points. The rally in China has been fast-forwarded by the approach of a seven-day holiday with the CSI 300 Index up 8.5 per cent on Monday, and 25.1 per cent in five trading days, he said.
Hong Kong has regained its spot as the world's fourth-largest market following a broad market rout in Indian equities. Currently, the Chinese territory's market capitalisation stands at $4.9 trillion versus India's $4.75 trillion, according to data compiled by Bloomberg. In January, the domestic equity markets' market capitalisation had surpassed that of Hong Kong following a spectacular rally in the small- and midcap stocks.
Selling pressure increased in line with a slide in the yuan.
China's stock market plunged on Monday.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen ended at 3,355.16 points and the Shanghai Composite Index at 3,116.35.
The CSI300 of the leading Shanghai and Shenzhen A-share listings has lost almost 11 per cent this week.
After a year of heady gains, Chinese markets have been buffeted by increasing signs that economic growth is faltering.
China on Monday suspended trading in equities on the first session of 2016 after shares on its stock exchanges plunged by 7 per cent.
The Shanghai Composite Index eased 0.2 percent in subdued trading on Wednesday morning.
More than 1,500 shares listed in Shanghai and Shenzhen dived by the daily limit.
The market breadth, indicating the overall health of the market, was positive
The market breadth, indicating the overall health of the market was strong
Extending losses for the second straight day, the rupee declined by 11 paise to close at more than 3-week low of 66.93 against the US dollar.
US crude was down 25 cents at $52.08.
Broader market underperformed the headline indices with BSE Midcap and BSE Smallcap finishing in red
S&P BSE Midcap and the S&P BSE Smallcap indices gained 2% and 1.6% respectively
BSE Midcap and BSE Smallcap outperformed the frontline indices to gain 0.2% and 0.3%
Broader market outperformed the headline indices with BSE Midcap and Smallcap finishing the day 1.22%, and 1.54% higher, respectively
RIL, ICICI Bank, Tata Motors and ONGC alone contributed to a 100 point cut seen on Sensex.
The market breadth, indicating the overall health of the market turned negative from positive
Chinese shares opened lower, with the Shanghai Composite Index down 1.8% and the CSI300 index down 2.2%.
The S&P BSE Midcap and S&P BSE Smallcap indices hit a new lifetime high
The top gainers on the Sensex are Gail(India), HDFC, Infosys.
It was a "bloody Monday" for Chinese stock markets as shares once again nosedived in the sharpest decline since 2007.
Sesnsex ended the day flat on heavy selling pressure.
In the past two weeks China has cut interest rates.
China's CSI300 stock index shed 1.1 per cent, hitting a five-week low, while shares of Hong Kong-listed Chinese companies sagged 0.9 per cent.
The S&P BSE Sensex plunged 301 points to close at 25,490 and the Nifty50 fell 86 points to end at 7,815.
IIP for November 2015 and CPI for December 2015 will be announced today.
An expectation of tax sops in Budget, weakness of dollar and robust tax collection are adding positive sentiment
Foreign institutional investors were net buyers in Indian equities worth Rs 277.92 crore on Tuesday
Auto stocks are weighing on the indices.
Rate-sensitive sectors like banks, realty and auto witnessed heavy selling pressure ahead of the RBI Monetary policy which is scheduled on September 29.
China's malfunctioning stock markets remained semi-frozen.
The 30-share Sensex ended higher by 46 points at 26,360 and the 50-share Nifty gained 16 points at 7,891.
Markets across the globe gained after China Securities Regulator removed its four-day-old circuit-breaker system.
Markets end higher ahead of Fed outcome, China stimulus
BSE Mid-cap and BSE Small-cap lost 2.5% and 3.1% after oil prices soared
China has relaxed its one-child policy and further freed up markets in order to put the world's second-largest economy on a more stable footing.
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