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Strategies & Market Trends : China Warehouse- More Than Crockery

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To: RealMuLan who wrote (2836)3/16/2004 3:37:54 PM
From: RealMuLan  Read Replies (1) of 6370
 
Asian equity markets to shine, says Templeton
Foster Wong

Templeton Asset Management expects strong economic growth, high foreign investment and attractive valuations to drive up the performance of Asian equities markets this year.

However, the fund is ``underweight'' on Hong Kong and China markets, despite the solid fundamentals in terms of their macroeconomic outlook.

``It's all driven by stock valuation,'' managing director Mark Mobius said. ``It is true that China is growing faster than Korea, but it's been factored into a lot of prices.''

The combined allocation of Hong Kong and China in Templeton's Asian Growth Fund portfolio was about 28 per cent as at the end of January. About 80 per cent of them were H-shares and red chips, while the rest were local stocks.

thestandard.com.hk
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