ID :
38965
Mon, 01/05/2009 - 19:11
Auther :
Shortlink :
https://oananews.org//node/38965
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HALBIS SAYS ASIA CONTINUES TO OFFER GOOD STOCKS FOR INVESTORS
KUALA LUMPUR, Jan 5 (Bernama) -- While the stock markets will continue to
see volatility and a slowdown in economic growth in the first half of 2009,
there will still be good opportunities in Asia for investors who focus on
quality stocks at the right price, according to Halbis Capital Management
(Halbis).
Halbis Asia Pacific chief executive office Ayaz Ebrahim said the outlook for
this year was shaped by strong fundamentals.
"We continue to favour quality companies with strong balance sheets,
resilient earnings and stable cash flows," he said in a statement here Monday.
Ayaz said these companies were better placed to cope with the downturn and
tight access to credit.
While Asia's growth would probably continue to slow well into the year, it
would be supported by stronger economic fundamentals, lower levels of leverage
as well as healthier current account balances than other regions, Ayaz said.
Nevertheless, it will not be immune to movements in global markets.
Halbis also expects China to continue to apply its considerable spending
power and policy flexibility to stimulate domestic consumption and investment.
"In India, despite slowing growth at around seven percent over the next
couple of years, valuations are extremely attractive.
"Hong Kong remains vulnerable to deteriorating global growth due to the
large contribution from exports and financial services to its economy.
"Taiwan and Korea will find the downturn more difficult to cope with.
However, these markets have been sold heavily and pockets of value are
emerging," Ayaz said.
On Thailand and Malaysia, he said the markets were still overshadowed by
political issues, but were also less exposed to the global cycle, which could
help them in the current environment.
"We continue to favour a bottom-up approach to investing, finding the stocks
best placed to deliver returns through the business cycle and over the longer
term," Ayaz said.
Halbis is one of the specialist investment businesses for HSBC Global Asset
Management.
-- BERNAMA
see volatility and a slowdown in economic growth in the first half of 2009,
there will still be good opportunities in Asia for investors who focus on
quality stocks at the right price, according to Halbis Capital Management
(Halbis).
Halbis Asia Pacific chief executive office Ayaz Ebrahim said the outlook for
this year was shaped by strong fundamentals.
"We continue to favour quality companies with strong balance sheets,
resilient earnings and stable cash flows," he said in a statement here Monday.
Ayaz said these companies were better placed to cope with the downturn and
tight access to credit.
While Asia's growth would probably continue to slow well into the year, it
would be supported by stronger economic fundamentals, lower levels of leverage
as well as healthier current account balances than other regions, Ayaz said.
Nevertheless, it will not be immune to movements in global markets.
Halbis also expects China to continue to apply its considerable spending
power and policy flexibility to stimulate domestic consumption and investment.
"In India, despite slowing growth at around seven percent over the next
couple of years, valuations are extremely attractive.
"Hong Kong remains vulnerable to deteriorating global growth due to the
large contribution from exports and financial services to its economy.
"Taiwan and Korea will find the downturn more difficult to cope with.
However, these markets have been sold heavily and pockets of value are
emerging," Ayaz said.
On Thailand and Malaysia, he said the markets were still overshadowed by
political issues, but were also less exposed to the global cycle, which could
help them in the current environment.
"We continue to favour a bottom-up approach to investing, finding the stocks
best placed to deliver returns through the business cycle and over the longer
term," Ayaz said.
Halbis is one of the specialist investment businesses for HSBC Global Asset
Management.
-- BERNAMA
