The MSCI index of ex-Japan Asian stocks shows a P/E multiple of 13.7, drastically down from a P/E of 21 last October. Stocks are also down more than 50% since last Novembers peak.
We find lots of stocks across Asia that are very good buying opportunities, Kathryn A. Matthews, chief investment officer of Fidelity Investment Management, Asia Pacific, told Reuters. We unloaded a lot of [China stocks] earlier this year on profit taking. Weve been returning to China since.
We dont believe inflation will be a significant problem in the long term, she continued. The pressures of higher commodities and food prices probably have peaked. Year-on-year, inflation is going to get better.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.