Andy Mukherjee, Columnist

Trump Wedge Divides China and India

The gap could widen with any cut in U.S. taxes.

April 28, 2017 at 5:43 AM UTC

Andy Mukherjee is a Bloomberg Opinion columnist covering industrial companies and financial services in Asia. Previously, he worked for Reuters, the Straits Times and Bloomberg News.

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A third strongman has managed to do what the two before him couldn't: Sever the link between the stock markets of China and India.

The correlation between the CSI 300 and the Nifty 50 indexes survived Xi Jinping's ascent to power in 2012 and Narendra Modi's election in 2014. Donald Trump, however, has succeeded in driving through a wedge. The link between equity prices of the world's two most-populous economies is now the weakest since at least the 2008 financial crisis.