India markets upgraded, China downgraded: Credit Suisse

Credit Suisse has upgraded India and Australia from Market Weight to Overweight while downgrading China and Thailand stock markets.

“The upgrades reflect our expectation that economic and earnings recoveries are just starting their most rapid phases for the two markets. EPS momentum for the two are among the region`s best, and the pandemic is no longer a major factor for either,” Credit Suisse said about India and Australia.

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“We downgrade China from Overweight to Market Weight in an APAC portfolio because the most exciting period of its recovery has passed. China has limited potential for future GDP gains, negative EPS momentum relative to the region, late-cycle valuations and the region`s…

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