Is it safe to return to Asian tech?

Citigroup Asset Management investment pros caution any rally must be followed by earnings results to continue.

Citigroup Asset Management's global team of fund managers toured the Asia Pacific region recently and found institutional clients have one main concern when to get back into Asia's tech story

Taiwan and especially Korea enjoyed dazzling stock market rises in the fourth quarter of 2001, but many clients remained on the sidelines because of post-September 11th jitters about a global recession. Samsung Electronics, for example, was up 28% in December and up 76% overall in 2001, denominated in won. TSMC rose 20% in December and 54% in 2001, in new Taiwan dollars. Both main boards also posted good year-end results in local currency terms, although not as good as just the big tech names.

Many...

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