In an interview to CNBC-TV18, James Chirnside, managing director-research & investments of Asia Pacific Asset Management said, irrational fear is gripping the markets at the moment. He is advocating to buy stocks in this decline. “Fundamentally, stocks are incredibly cheap. You got to buy big balance sheets, blue-chips,” he added.
James Chirnside, managing director of Research & Investments at Asia Pacific Asset Management, in an interview with CNBC-TV18's Reema Tendulkar, gives his view on the global markets.
Global equities have surged on the back on Euro zone’s approval of the second bail out package handed to Greece. But the European debt crisis isn’t finished, says James Chirnside, managing director of Asia Pacific Asset Management.
James Chirnside, the CIO of Asia Pacific Asset Management talks to CNBC-TV18 about how the global market picture is shaping up.
According to James Chirnside, Managing Director-Research & Investments at Asia Pacific Asset Management the major problem in the US is the housing market, where the confidence is low. He further adds that low levels of GDP growth may see a stimulus package to the economy.
James Chirnside, Asia Pacific Asset Management citing his views to CNBC-TV18 said, "Our sense is that they will agree to adopt the austerity measures, package and on the back of that the European Union or the ECB and the IMF will then propose the funding package for the rollover which is due at the end of July."
James Chirnside, managing director of Research & Investments at Asia Pacific Asset Management, told CNBC-TV18 that the temporary dark cloud has not yet been lifted off Greece.