Not much downside for Asian mkts: Daiwa Inst of Research

Hirokazu Yuihama, Asian Regional Strategist Daiwa Institute of Research says that most of the negative news has been discounted in the markets and so even if the auto bailout doesnít come through there wonít be much downside for Asian markets
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Dec 12, 2008, 10.14 AM | Source: CNBC-TV18

Not much downside for Asian mkts: Daiwa Inst of Research

Hirokazu Yuihama, Asian Regional Strategist Daiwa Institute of Research says that most of the negative news has been discounted in the markets and so even if the auto bailout doesnít come through there wonít be much downside for Asian markets

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Not much downside for Asian mkts: Daiwa Inst of Research

Hirokazu Yuihama, Asian Regional Strategist Daiwa Institute of Research says that most of the negative news has been discounted in the markets and so even if the auto bailout doesnít come through there wonít be much downside for Asian markets

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Hirokazu Yuihama, Asian Regional Strategist , Daiwa Institute of Research
Asian markets fall, ending a five-day rally by the region's benchmark index after Senate Republicans blocked a plan to rescue U.S automakers. Itís been a bad day for the Asian pack although there are no deep cuts.

Hirokazu Yuihama, Asian Regional Strategist Daiwa Institute of Research says that most of the negative news has been discounted in the markets and so even if the auto bailout doesnít come through there wonít be much downside for Asian markets.

He further states that he likes some defensive sectors like capital goods, retail, infrastructure.

Here is a verbatim transcript of the interview with Hirokazu Yuihama on CNBC TV-18. Also see the accompanying video.

Q: If the auto bailout plan doesnít come through considering that the republicans do still have enough votes to block the plan, how much of a cascading downside do you see for the Asian market?

A: I donít think there is much of a downside for the Asian markets because of the negative news on the US automakers bailout as it is almost discounted in the markets. Most of the negative impact has been discounted in the market already. So even if the bailout will not carried out successfully, I think you will not have damage to the markets.

Q: What are the specific sectors you are looking at? Some of the natural resources stocks like mining took battering, - any particular sectors in Asia you are bullish about?

A: I like the defensive sectors in the current environment like the retail and food and beverages or even some infrastructure related; this is mostly coming from the big economic stimulus package form China or machinery and capital goods sectors focusing on domestic demand increase. So currently I like those sectors.

 

 

 

 

 

 

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Not much downside for Asian mkts: Daiwa Inst of Research

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