LIVE MARKETS-India, Mexico stocks seen as potential havens on diminishing uncertainty
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INDIA, MEXICO STOCKS SEEN AS POTENTIAL HAVENS ON DIMINISHING UNCERTAINTY
Concerns around the outlook for trade and fiscal policies in developed markets have left investors scouring for opportunities in emerging markets, with Mexico and India seen by analysts as possible havens.
A Jefferies index that tracks economic uncertainty indicated a more than 40% drop in May for India and Mexico - the sharpest set of month-on-month declines globally.
A group of strategists led by Aniket Shah says the two countries' equity markets are better shielded from global headwinds.
Asian economies, including India, have well voiced their readiness to negotiate with the U.S., while Latin American nations face among the least of U.S. President Donald Trump's tariffs.
Indian equities .NSESN .BSESN have gained more than 3% this year so far with large block trades stealing the spotlight.
Further, sentiment has been buoyed by recent interest rate reductions by the Reserve Bank of India along with regulatory efforts to attract foreign ownership.
Regarding Mexico, analysts have pointed out that cheap labour costs in the country and a continent-wide free trade deal could keep Trump's rhetoric in check, while investors also look for stocks that are less exposed in the event of a tariff crossfire.
Mexico's benchmark .MXX hit a record high last week and, with a year-to-date gain of 17%, it is among top performing equities indices in the world and has roundly beaten the broader emerging markets MSCI index .MSCIEF.
(Johann M Cherian)
EARLIER ON LIVE MARKETS:
LUXURY EARNINGS MIGHT SLOW DOWN THIS QUARTER CLICK HERE
FINANCIALS TOP DRAG; DUTCH GOVERNMENT COLLAPSES CLICK HERE
BEFORE THE BELL: FUTURES UP, MORE DEFENCE IN STOXX INDICES CLICK HERE
INFLATION TO SET THE TONE FOR ECB CLICK HERE
LUXURY EARNINGS MIGHT SLOW DOWN THIS QUARTER CLICK HERE
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