India Stocks Top Indonesia as Asia’s Least-Favored in BofA Poll
India has replaced Indonesia as Asia’s least-preferred stock market in a survey of fund managers by Bank of America Corp., signaling growing caution toward a market that’s among the world’s worst performers this year.
A recent Bank of America Corp. survey of 98 fund managers, overseeing $272 billion in assets, has found that India is now the least-favored stock market in Asia. According to the survey, conducted between August 7 and August 13, 32% of respondents were net underweight on India, compared to 27% for Indonesia.
The survey identified the absence of clear exposure to artificial intelligence as the biggest concern for Indian equities, followed by weak economic growth. The lack of reforms and elevated valuations were also cited as factors behind the negative view of Asia's fourth-largest equity market.
Investor sentiment towards Indonesia, meanwhile, has improved, with the share of fund managers who were net underweight on the country falling to 27% from 32% in July. Taiwan and Japan continued to rank as investors' preferred markets in the region, according to Times of India.
Brief written by urgent.news from Tech in Asia, Business Standard IN, Times of India, Bloomberg — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- BofA survey: India becomes Asia’s least-favored stock market techinasia.com
