New Delhi, Dec. 28 -- Global investment bank Jefferies has increased its allocation to India and Taiwan in its Asia Pacific ex-Japan relative-return portfolio, while trimming exposure to China and Indonesia, citing evolving macroeconomic conditions and relative growth prospects across the region.

In its latest strategy note, Jefferies said it has raised the weightings of India and Taiwan by one percentage point each, funded through a reduction in allocations to China and Indonesia.

It says, "The weightings in India and Taiwan in the Asia Pacific ex-Japan relative-return portfolio will be increased by one percentage point each by reducing the weightings in China and Indonesia."

According to Jefferies' Asia Pacific ex-Japan asset allocat...