Asia growth story still positive: Aberdeen
Aberdeen Asset Management expects growth in Asia to moderate although it will make headway should policymakers be proactive in managing asset bubbles and inflation, it stated.
Aberdeen said the Chinese and Indian economies continued to drive regional growth and that the divergence of growth between the developed and developing economies should remain significant for some time.
Aberdeen Asset Management's senior portfolio manager of Asia Pacific fixed income, Adam McCabe, said activity was being driven by a rebound in cyclical factors as a recovery in exports was complemented by domestic consumption and investments. He added that the trend of global capital shifting to emerging markets in “record amounts”, as investors sought yield and reassessed risk, would continue in 2011.
Aberdeen stated that bond investors might experience challenging times as rising interest rates were left to normalise in the face of rising inflation. However, Asian equities were expected to produce reasonable returns over the next few years.
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