While it’s wet and chilly in New York today, it got up to almost 100 degrees Fahrenheit in Bangkok. Still, there was a cold, dark cloud over Christopher Wood’s head as he sized up the state of financial markets from the Thai city.
Minutes after tycoon Ratan Tata abandoned a two-year quest to build the world’s cheapest car in West Bengal over farmer protests, he got a text message from the frontrunner to be India’s next leader: “Welcome to Gujarat.”
A volatile rupee and downgrades in earnings estimates are the biggest risks to Indian equities amid a slowdown in the nation’s economic growth, according to CLSA Asia-Pacific Markets equity strategist Christopher Wood.
Investors should avoid buying China’s stocks until the third quarter when the government starts unwinding measures to curb asset bubbles, said Christopher Wood , chief equity strategist at CLSA Asia Pacific Markets.
CLSA Asia-Pacific Markets raised its weighting for Chinese shares traded in Hong Kong and cut Taiwan stocks after China relaxed the yuan’s peg to the dollar, strategist Christopher Wood said in his Greed & Fear report.