Asia's Just at Start of Bull Run: Fund Manager
This could be the quarter Asian markets are waiting for, never mind the tepid recovery in the U.S. and lingering concerns of euro zone debt.
According to Wong Sui Jau, Fundsupermart's general manager, the region is at the start of its bull run just as the fourth quarter kicks into gear.
As markets await a juggernaut of events in coming weeks, including monetary decisions by global central banks and the start of the quarterly earnings season, Wong is confident of brighter spots ahead.
"Asian economies will continue to charge ahead at its topline growth, [yet] markets are still well off 2007 highs. I'm fairly sure several of these Asian markets are likely to breach their all-time highs within the next 1-2 years," Wong said.
In terms of market opportunities, Wong suggests riding on the technology wave in East Asia.
"We are seeing very strong consumer demand for tech products and are bullish on the tech sector in South Korea and Taiwan. This is an under-invested and under-appreciated sector, but we feel it will have its day over the next six months," he said.
Wong also favors Asia's tourism-related sectors, which he believes will benefit from the pickup in travel demand.
"The increase in regional flights highlights a growing tourism industry here, which is in line with rising affluence plus the recovery in corporate travel," Wong said, "It's a good time to buy into related plays - we prefer Singapore's casinos and airlines."