A positive take on Asia:
washingtonpost.com
Excerpts:
Asian Stocks Are Worth A New Look
By James K. Glassman
Thursday, November 12, 1998; Page F01
If you think the U.S. market is hot these days, take a look at the emerging
markets of Asia.
Yes, Asia. Remember the land of crumbling economies, falling currencies
and frightened investors? Well, yesterday the Hang Seng index of Hong
Kong rose 4.3 percent, the equivalent of a 380-point jump in the Dow.
Since Aug. 13, it's up by more than half.
From its low a few months ago, Thailand's major stock index has risen 111
percent; South Korea's, 57 percent; Singapore's, 64 percent. China's, 27
percent. And in just the last seven weeks, the Jakarta composite index in
Indonesia has doubled. (All of these increases are in U.S. dollar terms.)
But despite these miraculous advances, Asia is still far cheaper than it was
15 months ago when the crisis began...
... So maybe it's time for investors who have shunned international stocks to
devote some cash to Asia. But then again, maybe not. Let me offer instead
two choices for different sorts of investors: 1) Asia, for risk-lovers, and 2)
global blue chips for the more sedentary....
... I am agnostic on the question of which to pick....
Glassman argues for investing 10% to 30% of an investors portfolio in international stocks -- he talks mainly about mutual funds. |
