asian-financial-stocks-in-limelight-amid-relief-rally

Asian financial stocks in limelight amid relief rally

The US government's plan to buy toxic assets provides an ideal opportunity for investors to sell shares in US banks and buy Asian financial stocks, says CLSA strategist.
The rally in global stockmarkets after the news of the United States governmentÆs plan to buy toxic assets from Wall Street firms over the weekend may provide an ideal opportunity for long-only investors to sell shares in US financial institutions and buy into Asia-Pacific financial stocks. This is the view of Christopher Wood, equity strategist at CLSA and author of the highly regarded Greed and Fear newsletter.

Speaking with the media at the first day of the 15th annual CLSA Forum yesterday, Wood said that Asia-Pacific financial institutions are insulated from their US and European counterparts and are considerably less leveraged. ôFrom a market point of view, the rally triggered by the weekend announcement by...
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