Business
HSBC Upgrades Indian Equities To Overweight From Neutral
New Delhi: Indian equities now look attractive on a regional basis, said HSBC Global Investment Research on Wednesday, upgrading the domestic market to overweight from neutral.
It said that US tariffs will have little impact on the profits of most listed companies.
Although foreign funds have withdrawn significant amounts from India in the last 12 months, a period in which the market has seriously underperformed, local investors have remained resilient, according to the report.
“While earnings growth expectations can fall a little further, valuations are no longer a concern, as the government policy is becoming a positive factor for equities, and most foreign funds are lightly positioned,” the global investment research firm said.
Foreign investors remained net sellers in Asia this year, which is typically unfavourable for regional stock markets.
Yet the market is up by an average of 20 per cent due to cash inflow from local retail investors. However, after a strong run in Chinese equities, especially in Hong Kong, further momentum is uncertain.
“Valuations are elevated, but not excessive. However, with retail investors sitting on $22 trillion in cash, some of which is gradually being re-allocated to stocks, we expect Chinese equities to grind slowly higher,” HSBC stated.
In Japan, Korea, and Taiwan, investors are interested in playing AI through these markets, especially in Korea and Taiwan, which are now very crowded trades.
Valuations have run up and in Japan, the weaker Yen has also supported equities.
Corporate governance is a positive long-term theme in Japan and Korea, but it won’t carry markets on its own. After the recent run-up in equities, we downgraded Korea to underweight in mid-August.
“Meanwhile, ASEAN’s investor confidence is low. Politics dominates the headlines in Thailand and Indonesia; for the latter, fiscal prudence is on the radar screen after a cabinet reshuffle,” the investment research firm said.
MUMBAI: The Irdai on Friday, fined Reliance General Insurance Rs 1 crore in Hyderabad for routing unauthorised payouts through marketing and awareness expenses that amounted to disguised commissions. The penalty follows Irdai’s examination of transactions across FY19, FY20 and FY21. According to the regulator, the insurer channeled payments to brokers, agents, corporate agents and unlicensed entities under labels such as consumer awareness, marketing and advertising.
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ISLAMABAD:
Pakistan has registered 144 olive startups as part of a decade-long government initiative aimed at developing the olive sector.
Olive Promotional Programme National Project Director Dr Muhammad Tariq told Wealth Pakistan that the sector had recorded rapid growth over the past 10 years due to sustained government backing.
“Ten years ago, when the government started this programme, we had only one entrepreneur. Today, we have 144 startups and entrepreneurs. It is a very fast-growing sector,” he said.
Tariq noted that the government’s continued support had played a central role in transforming the olive sector into a viable agro-industry. The federal minister for national food security has also taken steps to strengthen the sector by pursuing Pakistan’s full membership at the International Olive Council. “Hopefully, there will be progress within three months,” he said.
A traveler near a departures board at Newark Liberty International Airport (EWR) in Newark, New Jersey, US, on Monday, Nov. 24, 2025.
Victor J. Blue | Bloomberg | Getty Images
Airlines canceled more than 1,200 U.S. flights on Friday ahead of a major winter storm that will put carriers to the test during one of the busiest travel periods of the year.
A winter storm warning is in effect starting Friday afternoon in New York City, New Jersey and Long Island, with snowfall totals potentially reaching 9 inches, most of it falling overnight, the National Weather Service said.
Over 350 flights, or more than a quarter of the day’s schedule, were canceled as of 1 p.m. Friday to and from New York’s John F. Kennedy International Airport, according to flight-tracking site FlightAware. More than 200 were also scrubbed at Newark Liberty International Airport in New Jersey, and more than 100 were canceled at Philadelphia International Airport.
American Airlines, Delta Air Lines, United Airlines, Southwest Airlines, JetBlue Airways and other carriers waived change fees for restrictive basic economy tickets and said they won’t charge a difference in fare for any other customers flying in and out of a host of airports in the Northeast U.S.
Customers must travel by the end of the year if they change their flights, the airlines said. Flying as early as possible is likely the best bet with few seats available during the busy Christmas week.
Airlines for America, the industry lobbying group, expects carriers to fly a record 52.6 million people between Dec. 19 and Jan. 5, with this Friday and Sunday among the busiest days.
Airlines generally cancel flights ahead of time for major weather events in the forecast, like blizzards or hurricanes, to avoid planes, connecting travelers and crews from getting stranded and worsening disruptions.
Irdai fines Reliance General Insurance over ‘commission’ – The Times of India
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