Visit http://indiaer.blogspot.com/ for complete details Share-price indices globally have been robust since the beginning of October. The MSCI Asia
in particular has continued to hit a year high since late September, with the performances of
Hong Kong and China stocks, which had lagged behind previously, being noticeably strong.
The Indonesia, Thailand, Philippines and India markets also performed strongly, gaining by
more than 10% from the end of August to 20 October.
The PERs for Asia and the US have risen but remain under 13x. By sector, compared with the
beginning of September, the PERs for all sectors except for utilities, especially energy,
materials and IT sectors have moved up. The 12-month forward-ROE level for Asia is still
below that for Europe and the US, but remains at the 11% level.
In the Asia market, the medium-term (75-day) line is rising above the long-term (200-day) line,
representing firm market movements on a technical basis. Southeast Asia markets are still
significantly above the long-term moving-average line.
Net buying of Asian stocks by US investors declined for August 2010, but significant net
buying in the Southeast Asia and India markets has continued. On the other hand, net selling
in the Singapore, Hong Kong and Taiwan markets has been noticeable.
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