Foreign investors pour into India stocks despite sinking economy

尽管经济下滑，外国投资者仍涌入印度股市

India’s shrinking economy is not stop foreign investors from pouring money into the nation’s stocks betting on a recovery.

印度经济的萎缩并没有阻止外国投资者向印度股市投入大量资金，他们押注印度经济会复苏。

International buyers plowed a net $6 billion into shares in Asia’s third-largest economy in August, the most since March last year. That’s as all other markets in the region excluding suffered net withdrawals during the month.

今年8月，国际买手向这个亚洲第三大经济体的股市净投入60亿美元，为去年3月以来的最高水平。与此同时，该地区除以外的所有其他市场本月都出现了净撤资。

Part of it is a bet that Indian equities will play catch-up after trailing the region’s benchmark so far in 2020: the S&P BSE Sensex has underperformed the MSCI Asia Pacific Index by about 6.5 percentage points. Foreigners were also drawn to share sales by some of India’s marquee financial firms — ICICI Bank Ltd., Axs Bank Ltd. and mortgage lender Housing Development Finance Corp raised a combined ($4.7 billion) last month.

其中一部分是押注印度股市在2020年迄今一直落后于该地区基准股指之后，将会急起直追：标准普尔和孟买证交所Sensex指数的表现落后于摩根士丹利资本国际亚太指数约6.5个百分点。外国投资者也被印度一些知名金融公司的股票出售所吸引，这些公司包括印度工业信贷投资银行(ICICI Bank Ltd.)、Axs银行(Axs Bank Ltd.)和抵押贷款机构印度住房开发金融公司(Housing Development Finance Corp .)，上个月总计筹资47亿美元。

“We place India at the top of the list with for investment returns over the next 12-24 months,” said Nuno Fernandes, who helps oversee more than $2 billion in emerging-market assets at GW&K Investment Management LLC in New York. “India equities represent one of the fastest growth areas in the world.”

纽约GW&K投资管理公司的Nuno Fernandes说:“我们将印度和在未来12-24个月的投资回报排名首位。”Fernandes帮助管理的新兴市场资产超过20亿美元。印度股市是全球增长最快的领域之一。”

Foreigners have remained net buyers even after data Monday showed India’s economy shrank by a record 23.9% in the June quarter, putting in a net $231 million in the first three days of September. Hel them look past the grim GDP data is the improvement in business activity from July after the lockdown curbs were eased.

尽管周一公布的数据显示，印度经济在6月当季萎缩23.9%，9月份头三天净入2.31亿美元，但净买家仍是外国投资者。在放松限制措施后，商业活动较7月份有所改善，这有助于他们忽略糟糕的GDP数据。

“We need to look beyond the near term and consider companies that will benefit from the normalization of economic activity and demand,” said Amit Goel, a fund manager at Fidelity International. Goel, who oversees $1.6 billion in India Focus Fund, said he bought shares of private banks, a large staples company and health-care firms in the past three months.

富达国际的基金经理阿米特•戈埃尔表示:“我们需要把眼光放远一些，考虑那些将从经济活动和需求正常化中受益的公司。”戈埃尔在印度焦点基金管理着16亿美元的资金。他说，他在过去三个月里购买了私人银行、一家大型主食公司和医疗保健公司的股票。

Still, rapidly rising virus cases have put a dampener on investor confidence. With the number nearing 4 million, India is becoming the world’s new virus epicenter.

尽管如此，病例的迅速增加还是打击了投资者的信心。随着感染人数接近400万，印度正在成为全球疫情的新中心。

“As long as Covid-19 cases continue, localized lockdowns are likely to hinder an economic recovery,” said Kristy Fong, senior investment director for Asian Equities at Aberdeen Standard Investments. Aberdeen has turned “more defensive” as it expects a “patchy rather than a V-shaped recovery,” she said.

安本标准投资公司亚洲股票高级投资总监克里斯蒂说：“只要持续增加，局部封锁就可能阻碍经济复苏。”她表示，安本已经转向“更为保守”的走势，因为其预计复苏将是“零星的，而不是V型的”。

For the bulls, there remain plenty of reasons to be optimistic about Indian shares.

对于看好股市者来说，仍有很多理由对印度股市持乐观态度。

“The worst is behind us and we’re steadily heading toward a recovery,” Amit Shah, head of India equity research at BNP Paribas said in a note Thursday, citing improving auto sales, plentiful rains that will improve rural wages and the central bank’s easy monetary policy. BNP expects the Sensex to end the year at 41,500, 8% higher from Friday’s close.

法国巴黎银行印度股票研究主管阿米特·沙阿在周四的一份报告中表示：“最糟糕的时期已经过去，我们正稳步走向复苏。”他提到了汽车销售的改善、将提高农村收入的充足降雨以及央行的宽松货币政策。法国巴黎银行预计，Sensex指数今年将收于41500点，较上周五收盘上涨8%。

印度时报读者的评论：

译文来源：三泰虎 http://www.santaihu.com/p/50757.html   译者：Jessica.Wu

Godfather Senior

It is the confidence of the investors that they see no looters are there in the present government now!

投资者对印度有信心，他们看到印度这届政府中没人会贪污!

Krishna Nair

keep anti India media away from negative news against our country, globally market is down why can't see that.

让反印媒体停止发布针对我们国家的负面新闻，全球市场都在下滑，为什么他们看不到这一点?

Rai Bahadur

Good job by Avataari and Yug Purush Modi Ji. India is doing great under his leadership! My entire family and caste will vote for BJP!

干得好，印度在莫迪的领导下做得很好!

我的家人和我这个种姓的人都会投票给印度人民党!

Ashok Gupta

Whole world except some Corrupt Indians are praising Indian Economy .

除了一些腐败的印度人，全世界都在称赞印度经济。

Rational Corp

Which world?

你说的是哪个世界？

Ashish

Its gambling... no logic .. no transparency in market

这是投机，毫无逻辑，市场不透明

N R

The Modi Effect.

莫迪效应。

Sham Shastry

It is time to withdraw all lock-down measures completely and let economy of the country progress. Enough is enough of this corona fear.

是时候彻底解封了，让经济发展了，受够了这种对疫情的恐惧了。

Nation First

India First.

印度优先

pmk mut

as long as modiji in place its trust 200%

只要莫迪在位，大家200%信得过印度

Ramesh J

Foreign investors are betting on Ambani because they believe Indian Government is ready to do anything in favour Ambani.

外国投资者之所以押注于安巴尼，是因为他们相信，印度政府准备采取一切有利于安巴尼的措施。

KA S

But still minus 24% ?. How hard u godi media are trying to uphold ur masters image. Really incredible creature.

印度经济萎缩了24% ?

你们的媒体是多么努力地维护你们主人的形象啊。

真的是不可思议。

Vincent Rajkumar

FII are targeting Indian money. Beware.

外国投资机构盯上印度的钱了，要小心。

Digest The Truth

Lol another fake news reported.

哈哈，又在报道假新闻了。

Sameer Nirgude

This is just a dream. Don't worry other ASEAN countries are more competitive than India. India may attract only 20-30% of this traffic moving out from where as ASEAN countries will get bulk of it.

这只是一场梦。其他东盟国家比印度更有竞争力，印度可能只能吸引20-30%从撤离的企业，而东盟国家将获得大部分。

Bhupinder Grewal

Self praise. Get real

自卖自夸，还是现实点吧

Dilip

Economy isn't sinking, how a country if it's economy is sinking could buy, Rafale, Apache, AK 47, Sukhov, distribute free ration for 6 months' & distribute LPG cylinders free? Indian economy is bound to leapfrog as it never before.

印度经济没有下滑，一个国家的经济如果在下滑，怎么买得起阵风战机，阿帕奇直升机，AK 47，苏霍伊战机，给穷人发放6个月免费配给，免费分发液化石油气气瓶?

印度经济必将实现前所未有的飞跃。

Indian

Ha ha....Joke of the day. only dreams from last 6 years.

哈哈，笑话，这是过去6年做的梦

Balhans Jayaswal

Foreign investors know that India is being ruled not by a pappu or a puppet. So they are betting on Indian economy to rise and shine.

外国投资者知道，统治印度的不是傻子，也不是傀儡。因此，他们押注印度经济能崛起并将大放异彩。

Mehul Choksi

It is because of confidence on Indian Economy.

这是因为他们对印度经济有信心。