Indian stocks were the most popular among investors in U.S. exchange-traded funds last week, as China's sluggish recovery made the South Asian country the primary driver of growth in developing markets. The five days leading up to July 14 saw a total of $638 million invested into funds that buy equities listed on the Mumbai …
Indian stocks were the most popular among investors in U.S. exchange-traded funds last week, as China’s sluggish recovery made the South Asian country the primary driver of growth in developing markets. The five days leading up to July 14 saw a total of $638 million invested into funds that buy equities listed on the Mumbai Stock Exchange, while $223 million was invested into funds that buy Chinese stocks. The benchmark Sensex reached a record high on Monday, bringing its gains from late March to 16% in both rupee and dollar terms. Concerns over China grew after the world’s second-largest economy reported quarterly growth below estimates. Beijing reiterates its intention to offer only targeted assistance while avoiding a wider stimulus, but the country’s equity future is still unclear. Meanwhile, India’s GDP is anticipated to reach 7% this year, almost 1.5 percentage points quicker than China, thanks to domestic consumer demand and a halt in interest rate increases.
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