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.
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.
