Morgan Stanley upgrades India to 'overweight' while downgrading China
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Morgan Stanley has upgraded India's shares to 'overweight' and downgraded China's to 'equal weight.' The brokerage firm had previously elevated India from 'underweight' to 'equal weight' in March this year. It attributed India's meteoric rise to strong macro indicators and its ability to leverage multipolar world dynamics. India jumped from sixth to first in Morgan Stanley's ranking courtesy of less extreme relative valuations.