While Asia might be a better place to invest at the moment, it is essential to keep an eye on valuations and monitor the market for any potential risks.

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Dan Fineman, Co-Head of Equity Strategy-Asia Pacific at Credit Suisse, recently spoke to CNBC-TV18 and shared his insights on the current state of the global market. According to Fineman, Asia is currently a better place to invest in compared to the US or Europe.

“Asia is a better place to be than US or Europe right now. India is the place that looks quite safe right now,” he said.

This statement might come as a surprise to some investors who have been closely following the performance of the US and European markets in recent years. However, Fineman believes that Asia's growing economy and relatively low valuations make it an attractive investment destination.

While discussing India's market, Fineman noted that the country is currently in a safe place, but he expressed some concerns about valuations. He added that Credit Suisse is not entirely happy with the valuations of Indian companies at the moment, but he remains optimistic about the country's long-term potential.

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Fineman also shared his thoughts on the possibility of a recession, stating that he expects it to be shallow and short-lived. He emphasized that a shallow recession is not a cause for panic and should not be considered a systemic risk.

“We are expecting a recession in the US but not a deep recession. We think it will be a fairly shallow, fairly short-lived recession. It will likely be a recession that leads to earnings problems but not a systemic issue,” he said.

However, Fineman did acknowledge that a shallow recession in the US could lead to earnings pressure for banks. Despite this, he maintains that it would not pose a systemic risk to the market.

Also Read | India growth slows to 4.4% in October-December 2022-23

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(Edited by : C H Unnikrishnan)