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The valuation premium for stocks in the South Asian nation has risen sharply against that of emerging market, Asian and global peers. “In the short-term, the market has got stretched, so a 3-5% correction is on the cards,” said Atul Suri, a fund manager at Marathon Trends Advisory Pvt Ltd.
Asian markets trade higher as U.S. Fed speaker says he is ‘firmly’ in favour of 25 point hikes
Asian markets trade higher as U.S. Fed speaker says he is ‘firmly’ in favour of 25 point hikes
Asian stocks rose after US equities had their best day in more than a month on Friday as traders speculate that an unexpected contraction in services activity and a slowdown in wage growth will temper the Federal Reserve’s rate hike aggression.
Gold gained 0.6% to $1876.90 an ounce.