BackHSBC says not the right time to go ‘overweight’ on India
According to HSBC, the valuations still look high and foreign mutual funds are still 'very overweight' on Indian shares
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Mumbai: HSBC Holdings Plc on Tuesday maintained its “neutral" weighting on India. According to HSBC, the valuations still look high and foreign mutual funds are still “very overweight" on Indian shares.
HSBC estimated that MSCI India trades at 16.5 times 12-month forward earnings compared with a long-term average of 15 times.
HSBC called Indian shares the second most expensive in Asia ex-Japan after the Philippines.
“Is it time to overweight India? We don’t think the time is right yet for us to change our neutral weighting," HSBC said. Reuters
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Published: 19 Aug 2014, 12:37 PM IST
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