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'Not Start of Bear Market', Mark Mobius
02 Feb 10

Macquarie is pleased to list the following new warrants today:

Call HSI19400MBLeCW100330(KG3W) exercise level 19,400 index points.*

Put HSI18800MBLePW100330(KG4W) exercise level 18,800 index points.*

Call CapitalaMBLeCW100702(KG5W) exercise price $3.80.*


China, with its increasing tightening measures, has spooked markets worldwide – evidenced by the global retreat in recent weeks. However, Mark Mobius – chairman of Templeton Asset Management, expressed in an interview with Bloomberg last week that he thought China's lending slowdown may in fact benefit the domestic economy by reducing risk and investors should still buy shares of the nation's banks…

Chinese tightening not a bad thing
In an interview with Bloomberg on January 27, Mark Mobius who oversees about $34 billion in emerging markets funds as chairman of Templeton Asset Management Ltd said "I don't see a slowdown in lending as a bad thing," as "it moderates risk to some degree because people don't go overboard."

Chinese banks have begun restricting new loans, responding to a push by regulators to contain credit after a surge in lending in the first half of this month. That is stoking concern a government clampdown on lending will slow growth in the world's third- largest economy.

The Shanghai Composite Index has dropped as much as 15 percent from a 14-month high set in August, after having doubled from its November 2008 low.

"The market was due for a correction," he said. "I don't see the start of a huge bear market any time soon. As the Chinese get more into spending rather than saving, the banks will do very well. The consumer market really has just scratched the surface."


Hang Seng down 7.5% this year
The Hang Seng Index has fallen 7.5 percent this year, after surging 52 percent in 2009 as a 4 trillion yuan ($586 billion) stimulus package and record lending helped China lead the world
out of recession. Shares on the gauge are priced at an average 13.3 times estimated earnings, compared with 10.6 times at the beginning of last year, Bloomberg data show. (Bloomberg)

 

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