India and China — a 2023 tale of two markets
The worlds second-largest economy has seen equities slump by two-fifths since June 2021, thanks to Beijings isolationist Covid-19 policies, turmoil in the real-estate industry and a punishing antitrust campaign against the countrys valuable tech firms. If China has been mired in a surfeit of pessimism, the opposite is true of India. Thanks to pent-up urban demand after the pandemic, stocks have held up reasonably well despite the US Federal Reserves aggressive monetary tightening.