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This is an archive article published on December 19, 2011

CLSA cuts India portfolio to ‘neutral’

India has been cut to 'neutral' from 'overweight' in Asia Pacific ex-Japan relative-return portfolio.

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India has been cut to ‘neutral’ from ‘overweight’ in its Asia Pacific ex-Japan relative-return portfolio of CLSA.

In its third cut of India’s weight in December,CLSA reduced by four percentage points to six per cent in favour of China and Korea.

The research house said India remains the best domestic demand story in Asia,but there were growing concerns regarding banking in India.

Most of India’s problems are self-inflicted and the government was wrongly blaming European crises for it,adding a sell-off to the 11,000-12,000 level on the Sensex,particularly if combined with a rupee move to the 60 level,should generate sufficient noise in India’s always noisy media to wake the politicians in Delhi up,said CLSA’s equity strategist Christopher Wood in a note on Sunday.

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