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Credit Suisse upgrades Indian equities to 'overweight' from 'market weight'

Continued macro weakness in India and the sensitivity of Indonesia to adverse terms of trade limit our enthusiasm

Samie Modak 

credit suisse, suisse, swiss, swiss banks

Global brokerage has upgraded Indian equities to ‘overweight’ from ‘market weight’ earlier.

Although the overweight is marginal at only 1 basis point over India’s weight in the Asia Pacific index.

Credit Suisse upgrades Indian equities to 'overweight' from 'market weight'

Besides India, it has also upgraded Indonesia to marginal overweight. “We upgrade India and Indonesia from market weight to small overweights. Continued macro weakness in India and the sensitivity of Indonesia to adverse terms of trade limit our enthusiasm, but both are insulated from adverse CNY (yuan) and USD (dollar) movements, and both are unusually sensitive to falling rates and bond yields,” wrote strategists Dan Fineman and Kin Nang Chik in note.

First Published: Tue, August 06 2019. 22:17 IST
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