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China stares at deeper slowdown - Views on News from Equitymaster
 
 
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  • Jan 19, 2009

    China stares at deeper slowdown

    Mobius maintains his optimism
    Asian markets have opened the week on a positive note on the back of higher commodity prices and US government’s proposals to shore up the world’s largest economy. Currently, stocks in Hong Kong and China are up 1.2% and 2.3% respectively. Buoyancy in Chinese stocks is despite reports based on a survey of economists that the country’s economy may have grown (by 6.8%) at the slowest pace in seven years in the fourth quarter on the back of collapse in exports.

    In the meanwhile, Mark Mobius, the leading emerging markets fund manager at Templeton Asset Management Ltd., maintains his bulling view on India. Bloomberg reports that Mobius plans to buy more shares of consumer and commodities companies in emerging markets like India and China. "Valuations are attractive. We feel that this year would be a year of recovery of the stock markets in the emerging markets," he has said.

    Paul breaks his silence on Wipro
    Vivek Paul, the erstwhile CEO and Vice Chairman of Wipro, who was instrumental in making the software major what it is today, has broken his silence on the Satyam issue. Mr. Paul has silenced news reports that indicated that he might be the next CEO of the beleaguered Satyam, which is currently in a mess following its Chairman’s confession of a fraud. In an interview he gave to The Economic Times, he has indicated that he has not been contacted by anyone to take up the top job at Satyam.

    On the role of a new CEO at Satyam, Mr. Paul said, "Any CEO will have his work cut out. He will have to do this salvage act at a time when customer demand is shrinking, and competition is very hungry, and I don’t just mean Indian companies - Chinese and US competitors are calling on the Satyam customer base. Satyam needs someone who can build a great team, is willing to work long hours, and have the confidence to take on a situation that looks difficult with uncertain rewards.

     

     

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