India's bank shares ruin value buying in emerging markets
Five of the 10 worst-performing financial companies on the MSCI index since May are from India.EM value stocks are at 15-month low against growth shares
With emerging-market equity valuations 11% lower from a January peak, investors may be expected to hunt for cheap stocks. And given the global growth slowdown, they would probably be buying stable, dividend-paying companies.
In fact, theyre doing neither.
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