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CLSA has raised India and Vietnam weightage by 1 per cent each in Asia-Pacific ex-Japan relative-return portfolio.
Also, the investment bank has reduced the weightage of Hong Kong and Indonesia.
It says that the latest negative for Hong Kong, following slumping visitor arrivals, is China’s announcement that it will cut import tariffs on consumer goods.
The brokerage adds that there is growing evidence of a slowing economy and in particular a slowing consumer spend in Indonesia.
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