Morgan Stanley on Thursday became the latest brokerage to question the valuations of Indian equities and downgraded them from 'overweight' (OW) to 'equalweight' (EW) and recommended taking some money off the table. "We move tactically EW on India equities after strong relative gains - we expect a structural multi-year earnings recovery, but at 24 times forward price-to-earnings (P/E) we look for some consolidation ahead of US Fed tapering, an RBI hike in February and higher energy costs," Morgan Stanley equity strategists, led by Daniel Blake and Jonathan Garner, said in a note on Asia Pacific markets. The brokerage has upgraded Indonesia to OW, while maintaining an EW stance on China and UW on Taiwan.
The regional fallout could continue.
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The HSBC Emerging Markets Index, a monthly indicator derived from the PMI surveys, continued its upward trajectory in November on the back of faster manufacturing growth.
'With 1.3 billion consumers, India's market has great potential.'
People are interested in the strength of India's economy, the country's stability, and the opportunities, says Stuart Tait, regional head of commercial banking, Asia-Pacific at HSBC.
After Indonesia and South Korea on Friday joined Thailand, Australia, Chinese Taipei and Algeria in pulling out due to the dreaded disease
Faced with sluggish economic growth and dwindling exports, China on Wednesday devalued its currency for the second consecutive day.
Of the BRIC (Brazil, Russia, India and China) economies, China, Russia and Brazil posted sharper increases in activity, but India registered a fourth successive decline in output.
Markets in countries whose economic fortunes were closely linked to China's growth tumbled.
ATP, WTA cancel China events, including Shenzen Finals
It said Naisar Kothari, a resident of Bhavnagar in Gujarat, was arrested under sections of the Prevention of Money Laundering Act (PMLA) and he has been sent to the ED custody till December 22 by a court.
With the rapid growth of the emerging markets, the global economy is experiencing a seismic shift, points out the latest study by HSBC. Titled, 'The World in 2050', the report highlights that the economic shift is likely to continue.
The Hyderabad Open badminton tournament, scheduled to be held from August 11 to 16, was on Thursday cancelled by the world body BWF in view of the coronavirus pandemic. The event was part of the BWF's revised calendar to restart the sport after the pandemic-forced cancellations since March.
According to HSBC's 'Climate Confidence Monitor', one in three people in Vietnam, India and China believe that climate change can be halted, compared to just one in twenty in developed economies such as France and the UK.
Consumption of gold is the highest among middle-income households - those with annual income between Rs 2 lakh and Rs 10 lakh - who account for an average of 56 per cent of gold sales over the last five years, according to a nationwide survey conducted by India Gold Policy Centre (IGPC) at the Indian Institute of Management, Ahmedabad (IIM-A). "Per capita consumption is highest among the rich, but total volume still rests with the middle-income group. "With increasing income, there is an increasing propensity to consume gold, although the share of gold in the portfolio does not increase with the same proportion of income," the survey report says.
The 28-year-old from Hyderabad, a winner of the Indonesia Masters, semi-finalist at Malaysia Masters and quarter-finalist at the All England Championship, saw US$36,825 added to her career earnings.
List of international sports events affected by the coronavirus that has killed over 900 people and infected more than 40,000 in China
India's banks are propping up too many weak producers.
Sahara was to provide a bank guarantee from HSBC.
The HSBC Markit Services Purchasing Managers' Index fell to 51.7 in June from May's three-month high of 53.6, in a sign that Asia's third-largest economy is still struggling to climb out of a quagmire of low growth and high inflation.
According to the annual HSBC 'Value of Education Learning for Life' report, India has the world's highest proportion of parents (88 per cent) who are willing to send their children abroad for higher studies, ahead of Turkey (83 per cent), Malaysia and China (82 per cent each).
Some of Modi's biggest reforms have met with fierce political opposition.
Bumper liquidity as a result of global central bank stimulus measures should prevent a sharper downturn.
Chances of a rate cut in April improve if core inflation continues to ease, growth falling below the projected 7.2% for FY19 and if the global trade slowdown exacerbates.
Global equity and bond markets, especially in Japan, were spooked on Thursday post the US Federal Reserve's comments on the third round of bond buying programme, commonly known as quantitative easing (QE3).
Adam Scott's caddy Steve Williams has escaped official punishment for his racist remark about former employer Tiger Woods after a high-level meeting of golf officials in China on Sunday.
The HSBC Services Purchasing Managers' Index , compiled by Markit, fell to 50.6 in August from 52.2 in July.
Bharti Airtel , RCom and Tata Communications ended down between 0.1-1%.
The HSBC Manufacturing Purchasing Managers' Index fell to 51.3 in April from March's 52.1
RBI recently hiked LRS limit to $125,000 or Rs 7500,000 as on Aug 19 with $/rupee rate of 60
The Indian ace (70) outscored Tiger Woods (72) by two shots in the opening round of the HSBC Champions in Shanghai.
India is among the top 10 countries in the world in terms of expat quality of life.
The recent weakness of the rupee has been due to yuan's devaluation.
Markets recorded their biggest single-day fall since August 1 amid growth concerns in the euro zone.
A leading Chinese bank may have been used by Palestinian terrorist group Hamas and its allies to launder money for their global operations,according to Israeli intelligence reports.
The Tokyo 2020 Olympics torch lighting ceremony in ancient Olympia will be the first in more 35 years to be held without spectators after organisers introduced tighter measures to protect against the coronavirus. Here is a list of international sports events hit by the coronavirus outbreak.
In the offshore non-deliverable forwards, the one-month contract was at 62.26/36, while the three-month was at 62.83/93.
Erratic Saina stunned by Chinese youngster
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