Jefferies upgrades HDFC Bank, increases exposure, and adds Siemens to its Asia Long portfolio.

Jefferies, a global investment firm, has announced changes to its long-only equity portfolios in Asia, excluding Japan. The adjustments aim to rebalance key holdings and optimize the portfolios. In its Asia ex-Japan portfolio, Jefferies will reintroduce HDFC Bank Ltd. with a 4% weighting, offset by reducing stakes in Macrotech Developers, Larsen & Toubro, ICICI Bank, and Axis Bank by 1% each. Additionally, the firm will add Siemens Ltd. with a 4% weighting, replacing Samsung Electronics Pref and reducing its stake in SK Hynix by 1%. For its global equity portfolio, Jefferies will remove Samsung Electronics Pref and replace it with Schneider Electric SE, a French power equipment company. This move aims to diversify the firm’s global exposure, particularly in the power sector. The changes reflect Jefferies’ ongoing efforts to optimize its portfolios and adapt to market trends.