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>Actually you are more valuable to us, than we are to you. By helping
>educate us about what is really going on in your country, we can begin
>to have a better opinion on what is happening in Asia. For many of us,
>we do not have very good sources for what is going on in your part of
>the world.
>
>I hope that over the year will be willing to take the time to keep us
>posted.
>
>Harley
>
Dear Harley,
Nice to know that you people are interested in the Asian Markets. I
would like to pose a similar question about the general view re: India.
This is particularly because the Indian stockmarkets are being moved
considerably these days by foriegn institutional investors (FII). The
FII allocations for the new year are said to take place in January. For
the past three years we have been witnessing substantial stock price
movements ( upto 40-80%) from November through March. This year too, the
markets in India have bottomed out early December are now inching
upwards steadily in expectation of the fresh fund allocation to Asian
markets. There was a recent article which suggested that Morgan Stanley
recommended a 20% allocation to Asian markets of which 10% (or half the
amount to India). If this is true then we seem to be set for a big bull
run in India. I would certainly appreciate some feedback if RTers have
read anything on investments into India.
As a background, FII investments have been rising steadily and over the
past three years have reached $12 billion. Nov-Dec97 was the first time
when there was a net outflow from India and the quantum of investments
has now decreased to around $9 billion. This was a fallout of the
problems faced by the other Asian markets whereas India was one of the
few markets where the FIIs were able to book substantial profits to
offset their losses in Korea, HongKong etc.
I would really appreciate some feedback/viewpoints etc either pvt email
or through the list.
Dr.Narayan.
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