China Regains Favor With Investors Who Deem India Overvalued

(Bloomberg) — In a change of tone over the world's two biggest emerging markets, global investors overseeing billions of dollars are slowly starting to favor China versus India — reversing a year-long trend that's pushed stocks in opposite directions. BlackRock Inc. has upgraded Chinese stocks as policy hurdles ease, saying "the time to position in China is now," while trimming its exposure to Indian equities. Goldman Sachs Group Inc. and Nomura Holdings Inc. both downgraded Indian stocks in recent days, with the former upgrading offshore Chinese equities at the same time. Valuations are the key rationale as the losses triggered…