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HSBC Private Bank Downgrades India Equities to Underweight, Raises Allocation to Gold/ Cash/ Hedge Funds
Recommend 8 Positive 16 Negative 5 |
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In response to Iran war risks and the impact of oil prices, HSBC Private Bank has reduced its allocation to emerging Asia equities, and slashed its exposure to the Indian market, while raising its allocations to gold, cash and hedge funds, according to Bloomberg. Within equities, Patrick Ho, Chief Investment Officer for North Asia at HSBC Private Banking and Wealth, said that Indian equities were downgraded from Neutral to Underweight, believing that India is the 'most vulnerable' Emerging Asian market due to energy prices, and preferring North Asia markets. Equities in South Korea and China are better positioned to benefit from AI investment, given their stronger exposure to memory chips and upstream industrial sectors, alongside more attractive valuations and earnings visibility. The AI story and earnings expansion will continue, he added. Auto-translated by AI AASTOCKS Financial News |
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