Standard Chartered Bank 'neutral' on India, prefers Korea among Asian markets

Standard Chartered Bank has retained a neutral stance on India, with preference for the Korean market within the broader Asian context in its latest Global Market Outlook for 2024.

In an interview with CNBC-TV18, Fook Hien Yap, Senior Investment Strategist at Standard Chartered Bank said, "Within Asia excluding Japan, we are maintaining a neutral perspective, and India falls into the same category. However, given our positive outlook on global equities, we see overall potential for equity markets to rise. Specifically, within Asia excluding Japan, our preference is for Korea."

He said the bank anticipates a turnaround in the semiconductor cycle, which is poised to benefit South Korea in terms of both earnings rebound and better growth.