Mobius Sees Hong Kong's Hang Seng Index at 30,000, why not 50,000............

Discussion in 'Wall St. News' started by S2007S, Oct 11, 2007.

  1. S2007S


    Just make it 50,000, we all know its going to 50,000 by mid 2008.

    Mobius Sees Hong Kong's Hang Seng Index at 30,000 (Update1)

    By Catherine Yang and Hanny Wan
    Enlarge Image/Details

    Oct. 11 (Bloomberg) -- The prospect that Hong Kong's Hang Seng Index will rise to 30,000 points is ``quite possible,'' said Mark Mobius, who oversees $45 billion in emerging-market stocks at Templeton Asset Management Ltd.

    That's 5 percent higher than yesterday's close in a benchmark that has risen 45 percent this year. Investors are buying mainland Chinese companies' that trade in Hong Kong, he said.

    ``That's where the opportunity is,'' Mobius said in an interview today in Hong Kong.

    The $2.2 billion Templeton Emerging Markets Investment Trust Plc has risen 47 percent this year, the second-highest return for an emerging-markets equity fund among funds that hold more than $2 billion in assets, according to data compiled by Bloomberg.

    Mobius said there is a ``reasonable chance'' the U.S. Federal Reserve will cut interest rates this month. He is maintaining his weighting in energy shares, saying Chinese oil stocks ``have a way to go.''

    The fund manager said he is buying consumer banks, finance companies and retail stocks for a new emerging-markets small-cap fund.

    Investors are treating stocks in emerging markets as a ``haven,'' he said.
  2. Ancient Chinese proverb, Confucius say------"When emerging markets turn into submerging markets, must be very careful."
  3. When momentum of a runaway market start it takes a significant event to stop it. (e.g. HK properties bubble pre 1997)

    So why not 50,000.
  4. I called for 50k right here a week ago.