Economic fundamentals in Asia remain unchanged: Daiwa

Excerpts from Power Breakfast on CNBC-TV18 Watch the full show » RELATED NEWS Global cues looking better today Asian markets recover from their lows ALSO READ See what other FIIs are saying about the markets See what other experts are saying about markets See what Udayan Mukherjee is saying about the markets Nifty BSE | NSE 10/02/12 Are Mutual Funds betting on Nifty?

Asian indices climbed early today, reacting to a US rally. Hong Kong's Hang Seng surged 0.54%, or 121.63 points, at 22,564.88 while the Taiwan Weighted gained 1.2%, or 107.66 points, at 9,058.23.

Japan's Nikkei was up 0.14%, or 24.56 points, at 17,008.67 while South Korea's Seoul Composite rose 0.75%, or 13.82 points, at 1,866.89. However, Singapore's Straits Times was down 0.14%, or 4.87 points, at 3,430.59.

Hirokazu Yuihama , Asian Regional Strategist at Daiwa Institute of Research , felt that one reason for the Asian markets looking better was the Wall Street rebound. He added, "Investors are now taking the bottomfishing investment strategy."

When asked about his take on experts' views that there is more volatility still to come, he said there is some concern in the US market especially with the subprime market problem and that nobody knew how much the problem would spread globally.

He is still bullish on the markets. "The general trend will be uptrend because the economic fundamentals in Asia remain unchanged and are in fact better. Liquidity is still there. So, I am expecting a bullish movement in the mid- to long-term," he added.