Indian GDP growth surprised positively, coming in at 7% year-on-year (YoY) for the period October – December 2016. India continues to be the fastest growing major market in the world. This was the period when India’s demonetisation programme kicked off and these latest figures go some way to allay fears that the economy had been torpedoed by the policy decision. The 7% GDP growth figure exceeded consensus expectations of 6.1% comfortably.
Rapid inflows into emerging-market ETFs have distorted Asian markets, according to Waverton Invesment Management's Brook Tellwright.