(Bloomberg) -- Goldman Sachs Group Inc. forecast “sluggish” performance for Asian equities into next year on slowing economic indicators and after a rally from their March lows lifted valuations. “There is a good chance that Asian equity markets may see a period of lackluster performance or a correction into 2010, given the confluence of higher valuations and flagging macro momentum,” analysts led by Timothy Moe wrote in a report today. “Investors should consider moderating exposure and/or hedging.”
The MSCI Asia Pacific excluding Japan Index has surged 94 percent from a three-month low on March 2 on speculation a global economic recovery will drive corporate earnings higher. That pushed the valuations of shares on the gauge to 17.5 times estimated earnings, up from 10.3 times at the start of the year.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aR5awurxzd9o
Goldman Sees 30% Gain for Chinese Stocks Through 2010
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aGv7m8Ju8hBI
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