Mumbai: Nomura said it remains ‘structurally’ positive on India equities, citing limited trade exposure, status as a China+1 beneficiary and standout position within emerging markets as US exceptionalism fades, among other reasons.

The brokerage said, among other Asia markets, it is ‘tactically overweight’ on China, ‘neutral’ on South Korea and ‘tactically underweight’ on Taiwan.

“We have used the recent strength following the pause on US tariffs as an opportunity to trim exposure and use Taiwan as the larger funding market for our overweights on India and China,” said Nomura in a client note.