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Strategies & Market Trends : HONG KONG -- Ignore unavailable to you. Want to Upgrade?

To: Julius Wong who wrote (2584)	12/14/1998 7:47:00 AM
From: Julius Wong	Read Replies (2) \| Respond to of 2951

Dow Jones Newswires -- December 14, 1998 Dow Jones Newswires Morgan Stanley Forecasts Upturn In Asia Starting In 1999 Dow Jones Newswires HONG KONG -- Several Asian nations will see their economies hit bottom and start to recover in 1999, strategists at Morgan Stanley Asia Ltd. said Monday. "The last few months of 1998 have seen a real turnaround in many of the markets and we believe that this upward trend will continue," said Markus Rosgen, a regional strategist for the U.S. investment bank. In a press release, Morgan's regional team said they were particularly optimistic about Singapore, Thailand, India and Hong Kong. Singapore's leadership was moving to open up its markets and the republic could "be the region's best restructuring story," the press release quoted Tim Condon, regional economist, as saying. Rosgen recommended going slightly overweight in Hong Kong stocks, although he cautioned against being too optimistic. Structural changes still are needed to make the city competitive, he said. Thailand's economy will hit bottom in the first quarter of 1999, the team predicted, and see growth in the second quarter. Andy Xie, a China economist, said he believed the mainland would let recent reforms take root in 1999. As long as China maintains reforms and stability, "we believe it will be able to achieve not only high, but also quality growth," Xie was quoted as saying in the release. The team likes India's prospects because of its wide range of well-managed companies and investment opportunities, the press release said. Vineet Nagrani, co-head of Asia research, also said that Morgan planned to expand coverage in Asia in 1999. Copyright © 1998 Dow Jones & Company, Inc. All Rights Reserved.