Indian, Chinese stocks most popular among investors in Asia in H2 2024: Survey

July 7, 2024 at 8:44 PM IST

Indian and Chinese stocks are seen as potential outperformers in Asia in the second half of the year as investors turn to emerging market themes.

Indian and Chinese stocks are seen by investors as potential outperformers relative to their Asian counterparts in the second half of the year, Bloomberg reported, adding that investors are also currently flocking to emerging markets.

About a third of 19 Asia-based strategists and fund managers informally surveyed by Bloomberg said they saw Chinese and Indian stocks seeing the most growth over the next six months, with Japanese stocks coming in third.

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The MSCI EM (Emerging Markets) Asia index outperformed the MSCI Asia index in the latest quarter, the strongest performance since 2009, with Asian emerging market stocks the most bought in June, according to the report, which cited the prime brokerage desk of Goldman Sachs Group Inc.

Why do foreign investors prefer Indian stocks?

Indian stocks are favored because of post-election optimism and India's relative immunity to geopolitical tensions.

Indian stocks have been on the rise since Prime Minister Narendra Modi was re-elected for a third term, albeit in a coalition. India's stock market value topped $5 trillion for the first time in June, helped by the prime minister's commitment to stick to the policy.

Read also : India's loans to grow faster than GDP growth this year: SBI Capital Markets

Another Bloomberg survey on India showed that growth in Indian stocks has the potential to continue through the end of the year as investors believe the upcoming Union Budget will boost consumer spending and infrastructure.

Why do foreign investors favor Chinese stocks?

Chinese stocks have been favoured due to their low valuations, with investors also anticipating policy changes. However, they are currently struggling, with prices correcting after a sharp earlier rally.

Read also : Passenger car sales drop 7% in June as heatwave limits showroom visits: FADA

More than half of respondents said Asian stocks are expected to outperform their U.S. counterparts through 2024, driven by Fed rate cuts and cheap valuations.

However, most of them believe that gains will be limited to 10% or less.

News / Business / Indian, Chinese stocks most popular among investors in Asia in H2 2024: Survey

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