Bernstein Quants Cut Indian Stocks, See Further Upside for China
- Downgrade India to underweight while staying overweight China
- India seems vulnerable due to high valuations, strategists say
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Bernstein Societe Generale Group’s Asia quant strategists have downgraded Indian stocks due to valuations, while predicting further upside for Chinese equities on a policy boost.
India’s market seems “to be quite vulnerable in the near-term driven by record high relative valuations to China and emerging markets,” quant strategists Rupal Agarwal and Cheng Zhang wrote in a note Thursday.