Wall Street was once in love with China and plowed tens of billions of dollars into the country, helping to fund decades of growth. Now, that love affair is coming to an end as the Street’s big players shift their attention and their money to India.
Some of Wall Street’s largest investment firms. Including Goldman Sachs and Morgan Stanley helped to push buys of Indian stocks to new record highs in the last quarter of 2023, while four of the largest China funds saw outflows of almost $800 million in the same period.
“People are interested in India for several reasons — one is simply it’s not China,” said Vikas Pershad, an Asian equities portfolio manager at M&G Investments in Singapore, told Bloomberg.
