RBS sees 15-20% downside in Asia

Here are expert equity calls for the day on how the markets are expected to trade:

Emil Wolter, RBS: Global economic indicators appear to support the fast-vanishing growth momentum across the developed world. While downgrades have commenced, we believe these are either insignificant or overly biased away from the areas that are most vulnerable. We see prospect of further 15-20% downside in Asia.

Jyotivardhan Jaipuria, BofA ML: The slowing US economy poses further downside risk to our earnings. Given the macro gyrations globally, we prefer stocks with limited downside risks like HDFC Bank, HDFC and ITC. We also like ICICI Bank and Maruti on risk/reward basis.