Indian equity market’s resilience may be a signal that a new investment cycle is nearer at hand than the consensus thinks, said Christopher. Markets are now driven by politics instead of central banks, according to Christopher Wood, an equity strategist at investment group CLSA. ABOUT Christopher Wood. Christopher worked at ABN Amro Asia and Deutsche Morgan Grenfell before joining CLSA in as global strategist for Emerging.
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Are you confident that the capex cycle has picked up or is about to pick up in India? Technicals Technical Chart Visualize Screener.
Will be displayed Will not be displayed Will be displayed. This will alert our moderators to take action Name Reason for reporting: The Sensex is up This will alert our moderators to take action.
Choose your reason below and click on the Report button. But when we met in April, you had reduced your overweight position in India.
This is all the more impressive given that the rupee is down 9. You have always been a long-term christophr in India.
I reduced it to double overweight. In the short term, it depends on whether you believe there is going to be a trade deal chfistopher the G summit or not.
Christopher Wood, Equity Strategist, CLSA
Your Reason has been Reported to the admin. Wood said Indian market has been resilient as the country is primarily a domestic-driven economy, which has much less exposure to trade concerns driven by US President Donald Trump.
That to me is a pleasant surprise. There is a looming fear of trade war. Drag according to your convenience.
CLSA’s Christopher Wood Takes Aim at BoJ Chief – Barron’s
Foul language Slanderous Inciting hatred against a certain community Others. So in the two-month view, it is all about the trade war but if I am right, we get some kind of trade deal between US and China, there will be a counter-trend relief rally. Read more on Indian Stock market. In my view, the Chinese economy is still okay and I believe Emerging Market outperformance can resume and next year from an Indian standpoint, we will finally see concrete evidence of the long-awaited capex cycle in India.
The problem from macroeconomic stand point is that all the top-down data in India has been heavily distorted by the two events of demonetisation and second structural reforms in case of GST implementation.
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One should be buying the fear rather than getting scared from the fall? But I crhistopher agree with what you just said that the indications are that the investment cycles are on the point of turning and the resolution of some of these NPAs is a hugely significant and constructive development.
Drag according to your convenience. Asia is the market that has been hit most eood the so called US-China trade war. I started the year triple overweight India.
Mutual fund flows into equities are at a risk: Chris Wood of CLSA | Business Standard News
Wood said this would mean that the stock market will be much more resilient to monetary tightening and a higher oil price than currently assumed. China is more interesting in the short term than India: It would also mean that any correction will be a buying opportunity, said Wood. The affordable housing programme is kicking in on the ground. In a note in February, immediately after the budget, you had raised concerns that after the imposition of capital taxes, the domestic inflows into equities will slow down.
I am increasingly confident that capex has started to pick up: CLSA retains cautious view on Indian equities. Actually India was performing better than my base case expectation in the first eight months of this year but then we had the shock of a default by a triple AAA rated company which triggered some significant downside that obviously was not my base case.