Shankar Sharma has labeled CLSA"s recent "Buy India" note as a "trap" for retail investors and domestic institutions, criticizing the firm"s shift to a 20% overweight allocation in India while reducing exposure to China. He suggested that the note serves as a deceptive strategy by the Chinese-owned brokerage to mislead Indian investors, referring to it as a "Trojan Horse" designed to offload unwanted products onto them.
Hong Kong's finance sector is rebounding, with licensed finance jobs reaching a record high as banks and asset managers invest in the city’s ambition to become the leading wealth management hub. In the last four months, the city has seen a net increase of approximately 830 licensed financial professionals, bringing the total to nearly 42,000—the highest since the registration system began in 2003. Notable contributors to this growth include Citic Securities Co. and Millennium Management.
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