HSBC has downgraded India to underweight, citing inflationary pressures from elevated oil prices and demand as key concerns. The brokerage anticipates a delay in India’s economic recovery, with potential earnings cuts expected to impact valuations despite recent market sell-offs. This downgrade reflects weakening relative attractiveness for Indian equities compared to regional peers.
AI stocks retreat as Democratic sweep puts data centre boom in focus
AI-related stocks came under pressure on Wednesday despite a broader Wall Street rally following the Democratic sweep of Congress. Data centre companies CoreWeave, Iren and