The bank, Europe's largest, downgraded China stocks from "overweight" to "neutral," and lowered its outlook for India stocks from "neutral" to "underweight."
They noted that health-care and high-growth technology stocks have made gains on the back of work-from-home and other pandemic-related trends and that a rotation back to value "may weigh on further upside" in China.HSBC said it downgraded India because "much of the recent rally has already played out." The FTSE India has underperformed the broader region despite gaining around 40% from its market bottom in March.
The bank also pointed to "resilient" semiconductor demand and "a long-term growth story of rising demand for cloud and memory."
Stocks are just made up. Invest in stale bread and gold and you can retire in 5 years.
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