Relief rally to be short-lived: Asia Pac Asset Mgmt

James Chirnside, CIO at Asia Pacific Asset Management believes that the relief rally seen in the Asian markets will be short lived. Speaking to CNBC-TV18 he says, Asia still looks very good versus the rest of the world. India has been heavily sold than others but this will bring long-term value to India says he.

Excerpts from CNBC-TV18's exclusive interview with

Q: How are you viewing the markets that are trading this morning and what happened in the US last night?

A: We are continuing to see a bit of relief rally unfolding. There is a sense that the Fed has been able to underpin the financial institutions and that’s given investors a lot of confidence. I personally think it will be fairly short lived.

Q: Which of the markets are you particularly bullish on if you are in Asia and which are you not?

A: As a region, Asia still looks very good versus the rest of the world. With regards to sectors obviously there was tremendous relief at the moment for the financial sector. A lot of financial stocks regionally have been probably oversold. As far as countries go, India and others have been probably more heavily sold than others and I suspect this will probably bring a long-term value in India particularly.

Q: What’s your opinion of commodity stocks?

A: Commodity stocks continue to have strong demand from the emerging economies; they will underpin core commodities like industrial commodities. I think the more interesting area for the investors are agricultural commodities, soft commodities, and commodities that are also imperative to growth sector.

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