Jefferies raises India's weight to 14% in Asia-Pacific ex-Japan portfolio
Jefferies bumped up India's share in its Asia-Pacific (ex-Japan) portfolio to 14%, making it stand out even more compared to South Korea and Taiwan.
This shift comes as strategist Christopher Wood thinks the global AI capital-expenditure cycle might be nearing a peak and markets are becoming less willing to finance spending at that scale, so India is positioned as a relative diversifier.
Jefferies dials back North Asia semiconductors
Jefferies used to focus on North Asian semiconductor markets, but now it is dialing that back.
Strategist Christopher Wood said investors are getting cautious about massive AI investments because financial markets are becoming less willing to fund the next phase of AI investment and cash flow worries for tech companies.
By leaning into India's mix of sectors like domestic consumption and infrastructure, which are not as tied to unpredictable tech cycles, Jefferies is positioning India as a relative diversifier.