The release of Chinese data on growth in quarterly Gross Domestic Product and inflation numbers will define how emerging markets including India will perform this week, says Ian Hui of JP Morgan Asset Management.
Another important event, Janet Yellen's Friday comments and how they impact the US markets after they open today, will also define how market performs today, he adds. He expects a possible Federal Reserve rate hike in December.
He is positive on the India and the emerging markets, as he remains optimistic on numbers that will come in from China.
FIIs are pulling out despite a good earnings season and optimistic macro numbers. Falling short of 9,000, Nifty says around USD 0.5 billion worth of selling by FIIs. Ian Hui says there is no concrete reason for a sell-off from Indian markets.
India valuations may not be cheap, but he sees opportunities in some specific sectors like the financial sector.
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