Investors looking at emerging markets should favour Latin America over Asia in the near-term – in spite of Brazil’s imposition of a tax on foreign stock purchases, says Simona Paravani, global investment strategist at HSBC Global Asset Management.
She points out that LatAm equities are trading at a more than a 40 per cent discount to emerging Asian equities, versus a five-year average discount of just 5 per cent, based on 12-month trailing price to earnings ratio.
Ms Paravani argues that the valuation case is further supported by a buoyant macroeconomic picture. HSBC’s central scenario is for Brazilian growth to be 5.3 per cent in 2010 – which will in part be driven by strong Asian demand for commodities.
Thai Mango growers complain of low prices and fewer exports
Because of the global COVID-19 pandemic, their mangoes are not being exported, due to fewer buyers, and their prices have plunged to between 10 and 20 baht per kilogram, depending on size.
Mango orchard owners in Thailand’s northern province of Phitsanuloke are seeking help from the provincial administration to promote the sale of their sweet fruit, particularly Barracuda Mango variety.(more…)
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