India, Japan, Taiwan trinity on top of investor mind, shows BofA survey
Asian fund managers by brokerage BofA shows that the triad of Japan, India, and Taiwan continue to be at the top of investor mindshare, while China and Thailand lag at the bottom from an allocation perspective.
Asia Pacific fund managers are 51% overweight Japan, 32% overweight India and 24% overweight Taiwan while China (net 43% underweight) is at the bottom of the table.
«Semiconductors remain the most preferred sector despite a modest clawback on the outlook of the semiconductor cycle, closely followed by tech hardware, while real estate remains unloved,» BofA said.
In China, it said state-owned entities are making a comeback as risk appetite runs dry, while infrastructure rules the roost in India.
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«Worth mentioning, consumption plays are taking a backseat in the region in congruence with the consumer slowdown in the US,» the survey report said.
Back on Dalal Street, a renewed buying by foreign institutional investors after elections has made Sensex and Nifty touch never-seen-before peaks. After being net buyers to the tune of Rs 26,565 crore in June, FIIs have invested more than Rs 24,000 crore so far in the month.
In the near term, flows will be dictated by not just the Fed's rate cut trajectory but also domestic factors like the
