Asia

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Mark Mobius: Lessons from the Asian financial crisis

This month marks the 20th anniversary of the start of the Asian financial crisis, which sent shockwaves through the region and beyond. The crisis is thought to have started in Thailand in the summer of 1997, although its roots stem from even earlier systemic problems, namely in the financial sector. Thailand’s currency, the baht, had […]

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Mark Dampier: Taylor made for Asia growth

Asia has always been an exciting area in which to invest. Nominal GDP growth of 9.3 per cent per annum over the past 20 years, compared with 4.2 per cent in the US, promises fast-paced innovation. Despite this period of spectacular growth, the region has plenty left in the tank, according to Martin Currie Asia […]

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Trevor Greetham: Time to reboot Abenomics

At regular asset allocation meetings a decade or so ago a battle-scarred friend always said the same thing when asked for his views on regional equity strategy: It’s never too late to underweight Japan. Abenomics changed all that, making Japan the star performer of 2013 and 2014. Yen strength has blown Japan somewhat of course […]

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Playing the ‘new Japan’ theme

Japanese Prime Minister Shinzo Abe has recently announced his government is to introduce a ¥28tn (£200bn) package to boost the country’s flagging economy. The move had been expected in the wake of the UK’s vote to leave the EU, which Abe had warned would negatively hit the Japanese economy. However, the amount itself took markets […]

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Chinese equity star manager Diamond Lee leaves OMGI

Veteran China equity star manager Diamond Lee has left Old Mutual Global Investors to pursue “a career outside of asset management”, the group has announced. Lee was the manager of OMGI’s £47.1m China Equity fund. He was poached by OMGI in November 2014 from Ignis Asset Management where he spent 18 years as an Asian […]

Hugh Young: Japan is dancing to its own tune

Japan looks set to go to the polls this year. Votes could be cast as early as June in elections to fill around half the seats in parliament’s upper house. Prime Minister Shinzo Abe may also call a separate snap general election if he thinks this would enhance his chances of securing four more years […]

Is Abenomics running out of steam?

The debate around the strength and purpose of the reform process in Japan continues, with the market and currency both unnerving investors this year. A stronger yen has been a reflection of weakening global confidence and generating inflation also continues to be difficult, as evidenced by the current rate of 0 per cent. The Bank […]

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HSBC profits disappoint ahead of ‘bumpier’ financial times

HSBC has reported a lower-than-expected 2015 pre-tax profit for the end of 2015, as the bank sees a “bumpier” financial environment ahead. The bank said profit before tax was $18.87bn (£13.28bn) for 2015 against $18.7bn the year before. Net profit for 2015 dropped 1.2 per cent to $13.52bn from the previous year. HSBC group chief […]

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Is Abenomics failing? Japan GDP shrinks 1.4%

Japan’s GDP shrank at a worst-than-expected 1.4 per cent in the fourth quarter of 2015 amid falls in household consumption. Household consumption fell by 0.9 per cent in the fourth quarter, after an increase of 0.4 per cent in the previous quarter. However, output growth is projected to pick up from around 0.5 per cent in […]

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China shares plunge 6% amid capital outflow concerns

The Chinese stockmarket has been hit by a steep loss of 6.4 per cent as large equity outflows and oil price falls continue to worry investors. The benchmark Shanghai Composite ended 6.42 per cent at 2,749.79, its lowest point since early December 2014 and the biggest one-day drop since the 7 per cent fall on 7 […]

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Schroders to merge Japan funds

Schroders is to merge two of its Japan funds, bringing the £29.5m Schroder Japan Alpha Plus fund into Andrew Rose’s £2.15bn Schroder Tokyo fund. Subject to FCA approval, Schroders will combine the two funds as the Japan Alpha Plus fund, run by Nathan Gibbs, has shrunk in assets. The Schroder Japan Alpha Plus fund has underperformed the […]

Hugh Young: The rise of corporate governance in Japan

The scandal at Japanese optics and healthcare company Olympus in 2011 served to highlight the historically poor standards of corporate governance in Japan. Olympus’s then British chief executive Michael Woodford became whistleblower, revealing a £1.1bn accounting fraud he alleged had been taking place since 2006. Woodford was fired because he wanted Olympus to come clean […]