ASIA - Asia is striding ahead of other global markets and its future is looking bright, Credit Suisse Asset Management claims.
It believes confidence is high, that recent gains are sustainable and better times are ahead for Asian equities.
Since a low in April 2003, the market has rallied strongly and valuations are extremely attractive with price-to-earnings and price-to-book ratios close to historical lows.
Investors are also starting to anticipate improved earnings from technology companies and the larger markets of Korea, Taiwan and Hong Kong are expected to show leadership in the near future.
Credit Suisse Asset Management’s head of Asia ex-Japan, Peter Sartori, said money is being switched into the region as investors take account of global economic recovery and an easing of deflationary pressures.
He added: “We feel this money is long-term in nature and the beginning of a longer-term trend of global money finding a home in Asian stock markets.”
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