Moneycontrol Be a Pro
Get App
Last Updated : Mar 26, 2019 08:43 AM IST | Source: CNBC-TV18

Positive on Indian market since November 2018: Paul Kitney, Daiwa Capital

According to him, disinflation will be negative for countries like Japan, Europe and developed markets in general.

CNBC TV18 @moneycontrolcom

The United States is heading for a recession by mid of 2020 as a number of growth indicators both in the US and in Europe, particularly in developed economies, show a sharper slowdown than what previously anticipated, said Paul Kitney of Daiwa Capital Markets.

"So in terms of inversion of u-curve growth expectations have shifted down. We have also seen globally a pattern of disinflation, so this year synchronized disinflation, now that doesn't mean negative inflation rates but falling rates of inflation globally," Kitney told CNBC-TV18.

According to him, disinflation will be negative for countries like Japan, Europe and developed markets in general.

Close

Talking about growth, he said: "Growth rates in India and also Association of South East Asian Nations (ASEAN) are significantly higher than they are in most of the emerging market base and we see risk in those countries that are much more geared into the global trade cycle such as Japan, Korea and also Taiwan."

Kitney remained 'overweight' on India, saying that nice thing about Indian growth is its growth is much less correlated with the global trade cycle. He said Daiwa Capital has been positive on India since November and expects India to outperform. He does not expect the rupee to fall further from its current level.

Source: CNBC-TV18

The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Mar 25, 2019 02:12 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant
Make every wish come true
10% CashBack on Apparel
10% CashBack on Electronics
Swipe & Win iPhone 11 every hour