Why did Jefferies’ Chris Wood sell his stake in HDFC Bank shares?

Global fund managers remain bullish on Japanese stock markets, which are now their most preferred destination in the Asian region. Both Morgan Stanley and Jefferies have cited in their recent reports their preference for the Land of the Rising Sun, which is also fast becoming the land of rising stocks.

Within global equity markets, Japan is Morgan Stanley’s most preferred region, although following the rally (which saw Japan’s main benchmark, the Nikkei 225, reach its highest level in three decades), they recommend exposure to corporate reforms and nominal reflation themes. Europe, they said, has become more attractive at the margins.

First print: May 18, 2024 | 11:07 am IST