HSBC turns bullish on India, cuts China to Neutral
In short
HSBC upgraded India to Overweight and cut China to Neutral. Citi and Jefferies also favoured Indian equities.
Credit growth rose 21% year-on-year in October, with corporate lending up around 24% and MSME credit up 25%. That matters because it points to stronger lending and support for Indian markets.
What the reporting says
The brief adds that credit growth rose 21% year-on-year in October, with corporate lending up around 24% and MSME credit climbing 25%. The reported lending strength supports the positive tone toward India’s market outlook.
Why it matters
It also reports October credit growth of 21% year-on-year, with corporate lending up around 24% and MSME credit up 25%. The event matters for Indian stocks, banks and lenders because stronger credit growth can support earnings and market sentiment.