Hong Kong Favoured By International Fund Managers
Hong Kong has now become the location of choice for international equity fund
managers.
This is according to the findings of Dow Jones’s monthly survey of fund
managers’ portfolio weighting recommendations for the next twelve months. Sentiment towards the Hong Kong market turned positive in mid-2004, when the territory emerged from a period of deflation lasting over five
years, and has remained positive in the intervening months. However, fund managers believe that returns from Hong Kong shares will be relatively
minor in the short term, with many predicting that the Hang Seng will post small
gains in the coming weeks after crossing above the psychologically important
14,000 point barrier. "Hong Kong's economic recovery should carry into 2005 with greater inflationary
pressure, as a result of the plunging US dollar and the picking up of residential
rents," noted Leon Goldfeld, investment director at HSBC Asset Management. Fund managers are also optimistic over the prospects of other markets in the
Asia Pacific region, including Japan, Thailand, Taiwan, India and Indonesia,
retaining an overweight recommendation for all of these markets. A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp
|
|
IMPORTANT NOTICE: TAX-NEWS.COM has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. All materials on this site copyright TAX-NEWS.COM 1999 to 2007. Contact us for further information.