Martin Currie wary of tech stocks

By Ruth Alexander Martin Currie's Asia Pacific fund has moved underweight in Taiwan and Korea while going overweight in China, Hong Kong and Singapore. Adrian Mowat, head of the Asian desk at Martin Currie, said the former countries are suffering from having made too fast a recovery from the Asia crisis, which took the pressure off governments and countries to reform. Now that the situation has settled down somewhat, the lack of restructuring progress in Taiwan and Korea has become apparent. Mowat said: "People are still euphoric about tech stocks and, as a result, their valuations are ...