India's stock market, one of the world's most expensive, is likely to be a safe haven for investors in 2008 because of the economy's low exposure to slowing global growth.
Global investors should also be overweight Chinese shares, though less so than in 2007, as well as Hong Kong issues, while going underweight South Korean and Taiwan markets.
India will fare better than more trade-dependent economies as US growth slows, noting exports of goods and services account for about a fifth of its gross domestic product, compared with 40 per cent for China.
"Its valuations look steep, and it's a crowded trade ... but it's the nature of lifeboats to get crowded. And there is some merit to the idea of India being seen as one now."
"It can remain in a protracted expensive valuation zone because there's not enough reason to sell it."
Global investors should also be overweight Chinese shares, though less so than in 2007, as well as Hong Kong issues, while going underweight South Korean and Taiwan markets.
India will fare better than more trade-dependent economies as US growth slows, noting exports of goods and services account for about a fifth of its gross domestic product, compared with 40 per cent for China.
"Its valuations look steep, and it's a crowded trade ... but it's the nature of lifeboats to get crowded. And there is some merit to the idea of India being seen as one now."
"It can remain in a protracted expensive valuation zone because there's not enough reason to sell it."
2 comments:
Hi, the market situation have changed from what it where on the date you posted the blog. Whats your take on the market now.
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