HSBC Upgrades Indian Equities to Overweight, Citing Resilient Earnings and Attractive Valuations
Global financial services major HSBC has upgraded its rating on Indian equities from ‘Neutral’ to ‘Overweight’, citing resilient corporate earnings, strengthening credit growth and more attractive stock market valuations following a prolonged period of market correction. The bank has simultaneously downgraded Chinese equities from ‘Overweight’ to ‘Neutral’, reflecting a shift in its investment preferences across major Asian markets.