Still overweight on India post passage of GST bill, says HSBC

Herald Van Der Linde of HSBC says he continues to see no significant re-rating of Asian equities in the immediate future and expects low earnings growth of 1.9 percent to be the key driver for markets.

However, he continues to be overweight on Indian equities as monetary transmission mechanism is underway and passage of GST bill is a big step towards improving tax efficiency in India.Rajyasabha as well as Lok Sabha passed the Goods & Services Tax (GST) bill in the monsoon session of Parliament.