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Morgan Stanley has upgraded India’s status to ‘overweight’ due to its belief that the country’s reform and macrostability agenda supports a robust expenditure and profit outlook. A rating of overweight indicates that the firm anticipates India’s economic performance to improve in the future. The upgrade occurred despite the United States losing its AAA rating and China’s economic decline.
Read more: DELHI MINISTER RAISES QUERY OVER 28% TAX ON ONLINE GAMING
According to the firm, India’s macro indicators remain strong and the economy is on course to meet the 6.2% GDP forecast.
India’s ability to leverage multipolar global dynamics is a significant advantage, according to analysts at Morgan Stanley.
According to the study, India might be starting a long-term boom at the same time that China might be ending one.
The company also lowered its rating on Chinese stocks from overweight to equal weight, saying that investors should take advantage of a rise caused by the government’s plans to spend more money to help the economy.
In recent days, Chinese assets have gotten a boost because Beijing has made a lot of promises to boost growth and bring life back to the private sector, which has been slowing down. Analysts at the bank wrote in a report that steps to make things easier are likely to be taken one at a time. This may not be enough for shares to keep going up.
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