Expect Fed to up rates in Dec, overweight on India: Goldman

Timothy Moe, Goldman Sachs said the brokerage expects the Fed to raise interest rates in December."The market is split between September & December, and the actual timing will be data dependent, but the US tightening cycle will certainly be a focus in H2FY16," he added.

According to him, history suggests Asian markets tend to rally into Fed hikes & fade after, but the limited data points reduce the reliability of the conclusion.

The brokerage stays overweight on China, India, Korea & Taiwan, Moe said.