Morgan Stanley has upgraded India to ‘Overweight’ rating, while it has downgraded China to ‘Equal-weight’ rating, reports said.
A team of Asia strategists at Morgan Stanley raised India’s rating saying relative valuations are “less extreme” than in October and the nation’s reform and macro-stability agenda supports a strong capex and profit outlook.
“India is arguably at the start of a long wave boom at the same time as China may be ending one,” strategists wrote while downgrading China and Taiwan to equalweight.
(This is a developing story. To be updated)
