Credit Suisse Group AG said they favor Chinese banks the most among Asian financial stocks while Indian banks look “expensive.”
Investors should increase the weighting of Industrial & Commercial Bank of China Ltd. and China Construction Bank Corp., according to Credit Suisse analysts Sanjay Jain and Anand Swaminathan. They recommend trimming State Bank of India and HDFC Bank Ltd.
The analysts also increased Australian financials to “market weight,” saying bank valuations have become “more supportive.”
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