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Business AsiaOctober 6 - October 12
Which Asian funds to buy or sell
October Funds
Chinese equity funds performed poorly in August, says AsianInvestor's Rita Raagas De Ramos, quoting Lipper data. "Investors in China are focusing on post-Olympics economic and policy reforms," but China-focused funds have posted losses "in line with sharp falls in global markets worldwide." The iShares FTSE/Xinhua A50 China Tracker and Morgan Stanley China A Share Fund were the best of the bunch, however.
The Nation (Thailand) likes TMB Asset Management's TMB Treasury Money Fund, which mainly invests in government bonds and treasury bills. Casual investors should give the fund a shot because it "offers returns higher than deposits."
The Financial Times notes that Duet Group will be launching a Japan special situations fund that will focus on "distressed real estate."
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Raise deposit insurance ceilings
The recent run on Bank of East Asia highlights how Hong Kong's financial authorities "have done nothing to bolster depositor protection," says Tom Holland in the South China Morning Post. Global banks are starting to "topple like ninepins," and foreign governments are "racing to increase the ceiling on" deposits covered by national insurance.
Read ArticleOn the money
It's a "lighthearted guide to exchange rates" that serves as a kind of "fair-value yardstick" for a currency's true value, says The Economist of its Big Mac Index, which tracks purchasing-power parity - in this case, the idea that exchange rates should fluctuate to make the US dollar price of McDonald's iconic hamburger the same in every country. Just a "handful of currencies" are near their PPP. Many Western currencies, such as the euro, are overvalued, but the Japanese yen is a "snip" at 27 percent below its actual value.
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