Carry forwardtrades accounted for nearly 90% of trading volumes in the Indian markets and the fears of market players about volumes getting restricted appear justified to many.
In addition, stock prices of the big Chinese banks are relatively cheap: Bank of China trades at 1.4 times forward book value, and Agricultural Bank of China trades at 1.6 book value for fiscal year 2011, even though Bank of China is considered a better-run bank.