In Japan, banks, beneficiary of higher rates, remains the most preferred sector, followed by semiconductors. Investors prefer value tilt over growth but they do not see a definite market-cap size segment that will outperform. In China, AI/semis remains the most favored theme, while in India, investors are keen on consumption and infrastructure plays. IT services is out of favor, mirroring our India IT services Indicator's plunge to a 20-month low last month. See BofA India IT Services Indicator: Another dow ...