INSUBCONTINENT EXCLUSIVE:
India and Malaysian equities were the most expensive in Asia on October 2, based on their price-to-earnings valuation metrics, according to
Refinitiv.Most other regional markets saw a rise in valuations over the past month, thanks to some easing US-China trade tensions and rate
cuts by major central banks.A corporate tax cut announced by Finance Minister Nirmala Sitharaman last month to boost manufacturing and
revive its weakening economy propelled Indian shares higher.As of Wednesday, their P/E valuations increased to 16.42 from 15.98 a month
Indian equities benchmark rose 4.1 per cent last month.Malaysia's price-to-earnings ratio was 15.66, second highest in Asia, even though
their shares registered a 1.75 per cent decline in September."Despite the falling market in recent months,(FTSE Bursa Malaysia index's )
valuations have not improved because forward earnings estimates have collapsed: earnings are now expected to contract by 4 per cent against
a 1 per cent contraction as of end June." said brokerage Jefferies in a report on Tuesday.MSCI's broadest index of Asia-Pacific shares
gained 2.13 per cent during September and its forward 12-month price-to-earnings ratio rose to a five-month high of 13.14 times at the end
The August level was 12.78.China, Hong Kong and South Korea were the lowest-cost shares in the region, with P/E multiples of about 11 or
less, according to Refinitiv.Regional shares still trade at a slight discount to their global peers, the data showed.Get Breaking news, live
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