Asia needs global pick-up

Despite attractive valuations and a fast potential growth curve, the Far East remains entirely tied in to what is happening in the world economies. Vanessa Donegan, head of the Asian desk at Zurich Scudder, says: 'It is presently very difficult in the Asian markets. The Far East is waiting for global growth to pick up before it will improve. 'No-one knows when global monetary policy is going to kick in as we have yet to see if earnings are picking up.' Donegan explains that local Asian investors are not investing in equities in the Far East but rather putting their money into deposit...