A decade of recovery sees a healthy equity market

Ten years on from the 1997 financial crisis which hit the region, most of Asia's equity markets have recovered spectacularly. Indeed, in 2006, despite blips in May and June, the MSCI AC Asia Pacific ex Japan index gained around 33% in US dollar terms, compared with a 20% gain by the MSCI World Index. Re-ratings of Asia's stock markets saw India, Singapore, Hong Kong and Australia post record high returns during the year. "The macro-economic environment across Asia remained healthy in 2006, with growth becoming increasingly broad-based," says Hugh Young, manager of Aberdeen's New Dawn Inve...