Not the right time to go 'overweight' on India: HSBC
Aug 19 2014 , Mumbai
Bank says valuations still look high and foreign mutual funds are still "very overweight" on Indian shares.
HSBC estimates MSCI India trades at 16.5 times 12-month forward earnings vs a long-term average of 15 times.
Calls Indian shares the second most expensive in Asia ex-Japan after the Philippines.
"Is it time to overweight India? We don't think the time is right yet for us to change our neutral weighting," HSBC says.