UMC (2303)closed @53.00 -2.00 vol 32,981,638
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June 12 net purchase 7,442,000 shares
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TAIWAN WEIGHTED closed @ 5209.71 -56.53 (-1.07%)
Day's Range :5205.03 - 5318.71
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Foreign securities houses suggest 'outweigh' Taiwan stocks
Taipei, June 12, 2001 (CENS)--Two foreign investment banks, Morgan Stanley and Credit Suisse First Boston, have recently recommended their clients to fill up their portfolios with Taiwan stocks, citing a clear sign of an upturn in the local bourse.
Ajay Kapur, Morgan Stanley's chief analyst for Asia-Pacific region, said he strongly recommends to "buy" Taiwan stocks at the moment, though some analysts still held conservative views on the local bourse.
Noting that the index of "Earnings Revision", a leading indicator for global corporate earnings, has already bottomed-out recently, Kapur said buying stocks could now yield remarkable returns six months later.
Kapur suggested clients pick up technology issues, but shun away from financial, property and telecommunications stocks.
Meanwhile, Stewart Paterson, a strategic analyst at CSFB for Asia-Pacific area, said the business cycle in the entire Asia-Pacific rim, except Japan, has already hit its bottom, indicating the beginning of a bullish market.
The worse of the corporate earnings warnings for local stocks was already over and it is the right time to "outweigh" Taiwan stocks, Paterson said. |
