Tuesday, July 28, 2009

The Hang Seng Index has doubled in value in 2009 Peter Schiff

Peter Schiff bullish on Asia China and Emerging Markets

The Asian market the emerging markets continue to be strong Chinese shares are up more than 100% thus far in 2009 , the Hang Seng index is up 90% now from its lows on October 2008 , many people are warning now to stay away from the Asian market the Chinese stocks the emerging markets because they had such huge rises , that's true agree Peter Schiff they have gone up a lot I have never seen the markets move up this much in such a short period of time but you have to put the rise in prospective , you have to look at the decline that preceded it , the decline of 2008 was way out of line , the decline was an over reaction to the US crisis , the Hang Seng for example was better than 30 000 and it fell to 10 000 now it is back up at 20 000 so it is still 35% below its peak in 2008 despite the fact that it is practically doubled...many of these stocks are not as nearly as cheap as they were in 2008 and early 2009 but they are still not expensive based on dividend yields ..

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