The market looks to be in contrast to the economy. While the market is just 20 percent off the recent highs, the economy appears to be contracting.
Demonetisation did not shake our confidence in India story which we remain overweight on for the last 20 years, Hugh Young, MD, Aberdeen Asset Management said in an interview with CNBC-TV18.
Speaking to CNBC-TV18, Hugh Young, Managing Director of Aberdeen Asset Management-Asia, said the glory days of healthy IT returns were over.
Hugh Young, MD, Aberdeen Asset Management Asia is of the view that demonetisation is a big reform in a country like India where things usually move slowly.
Speaking to CNBC-TV18 on implications of the AB Group restructuring, Hugh Young, Managing Director of Aberdeen Asset Management Asia said the fund does not doubt the management's intentions but like other investors is worried about widening of holding company discount of Grasim.
The world is merely postponing the reality of economic slowdown and it is going to take sometime before clarity is achieved on many issues, Hugh Young, MD and Global Head-Equities, Aberdeen Asset Management told CNBC-TV18.
Uncertainty around the so-called minimum alternative tax on foreign asset managers' past income has unsettled investors, contributing to sharp falls in India's stock market.
Nilesh Shah, MD & CEO of Envision Capital, said the numbers are bang in line with expectation, and thus are a sigh of relief for the markets
Asian stocks could fall further as sentiment remains fragile, but the region's equity markets should make a relatively quick recovery as valuations are attractive, Aberdeen Asset Management's Asia head Hugh Young said on Friday.