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Posted by ronald.chis@googlemail.com on June 9, 2008, 9:18 am
India's domestic story to remain strong: Wilfred Sit
Wilfred Sit, Regional CIO, Asia Pacific at Mirae Asset Management said
crude is a long-term uptrend; so the
short-term volatilities are hard to predict. But the long-term, will
still be supported by a strong demand, mainly
because there is not enough supply. He said that we are likely to see
higher inflation than the previous years and it
would take some time for the economy to adjust to this inflation. He
feels people=92s consumption habits may change.
He added that inflation will start to show some moderating signs over
the medium term.
The Indian markets in general will also be under some kind of short-
term risk mainly because of inflation and oil
prices, he said. That could put a cap on the markets. However, he said
if one looks at the longer term, India will
continue to benefit from the rising domestic consumption because of
rising income levels, as well as emergence of
middle income class in India.
Wilfred Sit feels that Asia now has a lot of liquidity. With a
slowdown in the US, the subprime crisis and the
economic slowdown in the US and Europe, more of the investors money
that was previously invested in the
developed markets will now move to Asian equities. That will
definitely benefit India too, he said.
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Wilfred said that some money coming out of the developed markets has
been diverted to the commodities market.
But some of the money will also be coming to the Asian equities.
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