Morgan Stanley raises India’s ‘overweight’ position, and makes China pay for it
While many suggest that India's share markets have priced in a swift earnings recovery, global brokerage and research firm Morgan Stanley believes there is further scope for positive surprises. Aided by this view Morgan Stanley has increased its 'overweight' position on India, along with Korea and Brazil. The adjustment is made by reducing its rating on MSCI China to 'equal-weight'. In a recent note, co-authored by Ridham Desai and Sheela Rathi, Morgan Stanley said that India could outperform emerging markets in 2021.
India could become idiosyncratic with its own dynamics on policy, earnings, COVID-19, vaccine and real rates, and likely outperform EM in 2021: Reuters