China regains the favor of global investors who consider India overvalued

In a change of tone over the world's two largest emerging markets, global investors watching for billions of dollars are slowly beginning to favor China over India - reversing a one-year trend that has pushed stocks in opposite directions. BlackRock Inc. has improved Chinese stocks as policy hurdles ease, saying "the time to position itself in China is now" while reducing its exposure to Indian stocks. Goldman Sachs Group Inc. and Nomura Holdings Inc. both downgraded Indian stocks in recent days, with the former simultaneously improving Chinese offshore stocks. The ratings are the main reasoning as losses caused by Beijing's…