BofA Securities: India slips below Indonesia in APAC ex Japan
Business
India just slipped below Indonesia to become the least preferred investment destination in Asia Pacific (excluding Japan), according to a recent BofA Securities survey.
Out of 105 fund managers polled, nearly one-third said they were underweight on Indian stocks, mostly because India isn't seen as strong in AI and its economic growth feels sluggish right now.
Fund managers back Taiwan semiconductors
Meanwhile, Taiwan is winning big with investors thanks to its semiconductors and hardware sectors: over half of fund managers are betting on it.
For India, worries about slow reforms and pricey stocks are rising, so investors are moving their money into safer sectors and away from tech hardware.
On the bright side, concerns about the rupee dropping have faded for now.