Chris Wood ups China stake amid coronavirus fear; trims India exposure

Wood believes the Narendra Mod government seems to be prioritising the social agenda over economic issues

In adversity lies opportunity. At a time when most global financial markets are grappling with coronavirus fears and the impact it may have on major economies, Christopher Wood, global head of equity strategy at Jefferies has used the recent market correction to hike China stake in his Asia Pacific ex-Japan relative-return portfolio. 

The reason, Wood gave for this move is the fact that China has started to outperform world equities since the start of February in a hope that the worst may be over in terms of virus-infected people, while concerns grow that the number of cases will surge elsewhere.