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2021-10-28
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Morgan Stanley downgrades Indian equities over valuations<blockquote>摩根士丹利高于估值下调印度股市评级</blockquote>
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Indian stocks have strongly outperformed other emerging markets this year, with the MSCI India index up 27.53%, compared to a 0.65% slip in the MSCI Emerging Market index.</p><p><blockquote>摩根士丹利下调评级之前,野村证券和瑞银也因估值过高而采取了类似举措。印度股市今年的表现远远优于其他新兴市场,摩根士丹利资本国际印度指数上涨27.53%,而摩根士丹利资本国际新兴市场指数下跌0.65%。</blockquote></p><p> Morgan Stanley attributed the outperformance to bullish consensus earnings expectations and a \"favourable\" government reform agenda.</p><p><blockquote>摩根士丹利将表现优异归因于看涨的普遍盈利预期和“有利”的政府改革议程。</blockquote></p><p> The brokerage had said in an earlier report that nascent signs of capital expenditure, supportive government policy and a robust global growth outlook may result in India earnings compounding at over 20% per year for the next three-four years.</p><p><blockquote>该券商在早些时候的一份报告中表示,资本支出的初步迹象、支持性的政府政策和强劲的全球增长前景可能会导致印度未来三到四年的每年复合收益超过20%。</blockquote></p><p> \"While the fundamental leading indicators are positive, we see valuations as increasingly constraining returns over the next 3-6 months,\" Morgan Stanley said.</p><p><blockquote>摩根士丹利表示:“虽然基本面领先指标积极,但我们认为未来 3-6 个月的估值将日益限制回报。”</blockquote></p><p> The blue-chip NSE Nifty 50 index has surged nearly 28% this year, crossing the 18,000-mark for the first time ever. The index fell 1.67% on Thursday and was down more than 3.7% from its all-time high.</p><p><blockquote>蓝筹股 NSE Nifty 50 指数今年已飙升近 28%,首次突破 18,000 点大关。该指数周四下跌1.67%,较历史高点下跌超过3.7%。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Morgan Stanley downgrades Indian equities over valuations<blockquote>摩根士丹利高于估值下调印度股市评级</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMorgan Stanley downgrades Indian equities over valuations<blockquote>摩根士丹利高于估值下调印度股市评级</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-10-28 17:45</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Morgan Stanley downgraded Indian equities to equal-weight from overweight on Thursday due to expensive valuations, and said it expects the market to consolidate ahead of potential \"short-term headwinds\".</p><p><blockquote>由于估值昂贵,摩根士丹利周四将印度股市评级从跑赢大盘下调至同等权重,并表示预计市场将在潜在的“短期逆风”之前进行盘整。</blockquote></p><p> The brokerage said while the country's key fundamentals are positive, at 24 times forward price-to-earnings, Indian equities could see some consolidation ahead of the Fed tapering, a likely rate hike by India's central bank in February, and higher energy costs.</p><p><blockquote>该券商表示,虽然该国的关键基本面是积极的,预期市盈率为 24 倍,但在美联储缩减规模、印度央行可能在 2 月份加息以及能源成本上升之前,印度股市可能会出现一些盘整。</blockquote></p><p> Morgan Stanley's downgrade follows similar moves by Nomura and UBS over expensive valuations. Indian stocks have strongly outperformed other emerging markets this year, with the MSCI India index up 27.53%, compared to a 0.65% slip in the MSCI Emerging Market index.</p><p><blockquote>摩根士丹利下调评级之前,野村证券和瑞银也因估值过高而采取了类似举措。印度股市今年的表现远远优于其他新兴市场,摩根士丹利资本国际印度指数上涨27.53%,而摩根士丹利资本国际新兴市场指数下跌0.65%。</blockquote></p><p> Morgan Stanley attributed the outperformance to bullish consensus earnings expectations and a \"favourable\" government reform agenda.</p><p><blockquote>摩根士丹利将表现优异归因于看涨的普遍盈利预期和“有利”的政府改革议程。</blockquote></p><p> The brokerage had said in an earlier report that nascent signs of capital expenditure, supportive government policy and a robust global growth outlook may result in India earnings compounding at over 20% per year for the next three-four years.</p><p><blockquote>该券商在早些时候的一份报告中表示,资本支出的初步迹象、支持性的政府政策和强劲的全球增长前景可能会导致印度未来三到四年的每年复合收益超过20%。</blockquote></p><p> \"While the fundamental leading indicators are positive, we see valuations as increasingly constraining returns over the next 3-6 months,\" Morgan Stanley said.</p><p><blockquote>摩根士丹利表示:“虽然基本面领先指标积极,但我们认为未来 3-6 个月的估值将日益限制回报。”</blockquote></p><p> The blue-chip NSE Nifty 50 index has surged nearly 28% this year, crossing the 18,000-mark for the first time ever. The index fell 1.67% on Thursday and was down more than 3.7% from its all-time high.</p><p><blockquote>蓝筹股 NSE Nifty 50 指数今年已飙升近 28%,首次突破 18,000 点大关。该指数周四下跌1.67%,较历史高点下跌超过3.7%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源:<a href=\"https://finance.yahoo.com/news/morgan-stanley-downgrades-indian-equities-094123591.html\">Reuters</a></p>\n<p>为提升您的阅读体验,我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MS":"摩根士丹利"},"source_url":"https://finance.yahoo.com/news/morgan-stanley-downgrades-indian-equities-094123591.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115835043","content_text":"Morgan Stanley downgraded Indian equities to equal-weight from overweight on Thursday due to expensive valuations, and said it expects the market to consolidate ahead of potential \"short-term headwinds\".\nThe brokerage said while the country's key fundamentals are positive, at 24 times forward price-to-earnings, Indian equities could see some consolidation ahead of the Fed tapering, a likely rate hike by India's central bank in February, and higher energy costs.\nMorgan Stanley's downgrade follows similar moves by Nomura and UBS over expensive valuations. Indian stocks have strongly outperformed other emerging markets this year, with the MSCI India index up 27.53%, compared to a 0.65% slip in the MSCI Emerging Market index.\nMorgan Stanley attributed the outperformance to bullish consensus earnings expectations and a \"favourable\" government reform agenda.\nThe brokerage had said in an earlier report that nascent signs of capital expenditure, supportive government policy and a robust global growth outlook may result in India earnings compounding at over 20% per year for the next three-four years.\n\"While the fundamental leading indicators are positive, we see valuations as increasingly constraining returns over the next 3-6 months,\" Morgan Stanley said.\nThe blue-chip NSE Nifty 50 index has surged nearly 28% this year, crossing the 18,000-mark for the first time ever. The index fell 1.67% on Thursday and was down more than 3.7% from its all-time high.","news_type":1,"symbols_score_info":{"MS":0.9}},"isVote":1,"tweetType":1,"viewCount":2993,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/854976422"}
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