China is No.1, India is No. 2 global hot spot: Mark MobiusPublished on Mon, Apr 27, 2009 at 17:40 | Source : CNBC-TV18 Updated at Tue, Apr 28, 2009 at 22:55
Mark Mobius, Managing Director of Templeton, also christened as emerging market guru, signaled it a few weeks back, in early March, when the world was collapsing or the world of equities was collapsing. That time he said he saw great value in emerging markets and many global equity markets may see a very good rebound. In an exclusive interview with CNBC-TV18's Udayan Mukherjee, Mark Mobius said that market is currently building a base for the next big bull rally, which can be clearly seen "If you look at the valuations, flows of funds, the amount of money being printed not only by the The worst for the markets is over, Mobius said. "The money supply is increasing in a fast pace, inflation is coming down and with that interest rates are coming down as well. All of these factors have a hand to play in pushing stock market prices up." Sounding upbeat on the BRIC (Brazil, Russia, India and China) universe, Mobius said China is growing at an incredible pace and hence in terms of opportunities, that country stands at Number 1. The Number 2 spot, of course, belong to India which is expected to record a growth of 4-5%. Since both these countries have a population of over a billion people, the growth will include rising per capita income as well as a surge in consumption pattern. Also Read: Transcript of interview on next page...
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