New Delhi:
Brokerage firm Morgan Stanley has changed India’s status to ‘overweight’ as it believes that the nation’s reform and macro-stability agenda supports a strong capex and profit outlook.
“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 firm cut its rating on Chinese stocks to equal weight, saying investors should capitalise on a rally spurred by government stimulus pledges to take profits.
Chinese assets have gotten a boost in recent days amid a slew of promises from Beijing to spur growth and revitalise the nation’s flagging private sector. But easing measures are likely to come piecemeal, analysts at the bank wrote in a report, which may not be enough for shares to sustain gains.
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