Credit Suisse upgrades India, Aus, but downgrades China, Thailand

TNN
Mumbai: Global financial services major Credit Suisse (CS) has upgraded India and Australia because of expectations of strong economic and earnings recoveries, while it has downgraded China and Thailand. CS analysts believe funds from countries like China and Thailand will move to countries like India and Australia as these economies race to pre-Covid levels in the coming months. The analysts also believe that there is a chance for the RBI to cut interest rates.
“The upgrades reflect our expectation that economic and earnings recoveries are just starting their most rapid phases for the two markets. EPS (earnings per share) momentum for the two are among the region’s best, and the pandemic is no longer a major factor for either,” CS analysts wrote in a note titled ‘Shifting from China and Thailand to India and Australia’, released on Tuesday.
On the other hand, CS…