HALISTER1: BlackRock Positive on Asia Credit, Likes China IG, India: Seth

BlackRock Positive on Asia Credit, Likes China IG, India: Seth

(Bloomberg) -- Sees high participation of Asia investors in the region’s credit market, which remains a bright spot, Neeraj Seth, head of Asia credit at BlackRock, says at a press briefing in Hong Kong on Monday.
  • BlackRock is overweighting Chinese IG credits, including TMT, SOEs, due to a gradual slowdown in growth, deleveraging and SOE reform agenda; prefers IG over HY for China names
  • In India is overweighting IG and HY credit because of improving growth outlook and strong reform momentum, also likes local-currency bonds there
  • Positive on Sri Lanka, Mongolia
  • More neutral on Indonesian credits
    • Indonesian dollar bonds have priced in a lot of future improvement, more positive on local currency than dollar notes

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Source: BFW (Bloomberg First Word)

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BLK US (BlackRock Inc)

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Neeraj Seth (BlackRock Inc)

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