Asian Investors Set To Be New 'Guardian Angels' Of International Markets
Speaking last Thursday at the Ashburton Annual Investment Conference in Jersey,
the firm's global investment strategist, Peter Lucas, suggested that Asian investors
and consumers are likely to take over from the US consumer as the "guardian
angels" of the international markets, driving growth. "The Asian crisis represented a massive transfer of wealth from East to
West. With the baton now passing from America to Asia, this process is going
into reverse with very positive implications for Asian stockmarkets," he
explained to delegates, adding that: "America may not prove to be the growth locomotive it once was but it
doesn't matter. The world has a new guardian angel - the Asian consumer." Mr Lucas went on to predict that Japanese equities are likely to prove a worthwhile
investment in the long term. He also suggested that US bonds currently represent
a poor investment, and that the euro is expected to strengthen in the near future. .
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