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Indian market resilient amid global turmoil: HSBC's Herald van der Linde

Citing macro concerns like inflation, dollar prices etc, Herald said that apart from Indonesia, only country managing to sail through these tough times in Asian markets, is India.

April 28, 2022 / 04:40 PM IST
Representative image

Representative image

With the US stock markets showing a recovery in the early morning trading after the April sell-off, the Indian market has been resilient, HSBC's Chief Asian Equity Strategist Herald van der Linde said on April 28.

Sharing his thoughts on Asian market conditions with CNBC-TV18, Herald said that Chinese lockdown concerns has hit markets. "Its pretty foggy out right.. for the whole region in Asia," CNBC-TV18 quoted Herald as saying. Citing macro concerns such as inflation, dollar prices etc, Herald said that apart from Indonesia, only country managing to sail through these tough times in Asian markets, is India.

Speaking on Indian markets, Herald said, "India has proven to be very resilient...India is strong in these (macro concerns) particular kind of long structure of themes." Adding more, the expert pointed out India has been successful in bringing out retail networks across the country while all sorts of demographic trends playing in India and increased ability had made the recovery more strong. In his opinion, greater domestic participation has helped the economy amid the high oil prices and inflation.

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"We do like India as a structural long return market. India has been one of the best performing market in past two decades in Asia ," added Herald while commenting on India's market, however, he cited Indonesia's new strategy in telecom, which apparently started in India 4-5 years back. For Thailand, he cited tourism decline an issue while for Mainland China, lockdown and semiconductor production remains to be issues for uncertainties.

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On the issue of macro themes India should look at, Herald pointed the Asian country should strive to become self-sufficient and reliant for geo-strategic reasons. He added that demographic shifts also should be looked upon like micro issues including health and agro shift.

On the current condition of neighbour China, Herald said that country's short-term crisis due to lockdown may impact its markets, but on a longer term its manufacturing sectors including semiconductors may hit in case the situation don't stablise.



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