Asian EMs See Glimmer Of Hope |
|
April 21,2009
The outlook for share, currency and bond markets in emerging Asia is “less bleak” than for those in other regions, the Asian Development Bank said on Tuesday.
The outlook for share, currency and bond markets in emerging Asia is “less bleak” than for those in other regions, the Asian Development Bank said on Tuesday.
The ADB said at its first annual Asia Capital Markets Monitor that it saw signs of stabilisation and tentative recovery. It warned, however, that uncertainty about the depth and length of world recession and financial turmoil could delay a sustained revival.
Any road to recovery was likely to be “long and hard” even with governments around the world spending billions of dollars to stimulate economic growth.
The report, covers the ten members of the Association of Southeast Asian Nations, mainland China, Hong Kong and South Korea.
Since hitting a 5½-year low on March 9, the FTSE Asia-Pacific index has risen by more than a quarter in value. Banks and financial companies have driven much of the rally, although the markets tumbled on Tuesday.
Worries that the threat of deflation had not passed increased as Bank of America announced a big rise in provisions for bad loans.
Related Links
