India most expensive equity market in Asia-Pacific

India is the the most expensive equity market in Asia-Pacific region for 2007, excluding Japan, though the country can give the second-highest returns to investors after Indonesia, says a study by the global brokerage firm Citigroup.According to a new report from Citigroup, India is the overall most expensive market in the region for 2007 after considering various metrics such as price-to-earnings ratio,book value, dividend yield, cash flow, return on equity and enterprise value.Citigroup has termed India more expensive than China, Hong Kong, Philippines and Australia, while it has named Thailand, Korea, Taiwan, Indonesia and Malaysia as the cheapest.