Indian markets extremely cheap v/s China: Nomura
April 21st, 2009
Paul Schulte, Chief Regional Equity Strategist of Nomura, feels that the global markets may test earlier lows. He said that several Asian markets seemed to have bottomed out. He also sees steel as a depreciating asset and steel stock as a value trap.
Comparing India with China, he said, “India is extremely cheap compared to China.” He believes that there is a fundametal difference in developments in Asia versus West.