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Chinese market better positioned than India currently, says JP Morgan


Mixo Das, Asia equity strategist at JPMorgan, spoke to CNBC-TV18 about the risks surrounding the global and emerging markets.

Mixo Das, Asia equity strategist at JPMorgan, spoke to CNBC-TV18 about the risks surrounding the global and emerging markets.
According to Das, the environment for risk assets in Asia are currently favourable because of the most important change over the last couple of weeks being the Fed tone moving towards being dovish.
"If Fed were to turn dovish then it provides a long-time window for investors to assess the attractiveness of Asian equities, he said. Moreover, earnings in Asia going into next year are going to be quite favourable providing an opportunity to invest in the region, said Das, adding that valuations are already quite attractive. So all in all markets in Asia could trend higher in the first half of next year," Das said on Friday.
As of now, Das said, the Chinese market is better positioned than Indian market because it is coming off from a stronger low and the movements with regards to trade with US seem to be improving, benefiting the Chinese equity markets.
"So China from a value perspective ranks much higher than India. “In near-term the Chinese market will do much better, attracts more flows, more attention going into next several months,” said Das.
Talking about some of the risks for Indian markets apart from valuations, he said, "There are some minor issues with regards to RBI policy making, issues if oil were to rise again sharply but from long-term perspective investors are watching the liquidity situation in domestic financial system."
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