Technology dominates growth

Despite exceptional returns last year, fund managers believe the Asian recovery is just beginning. Technology stocks in particular should see continued growth, they say. Edmund Harriss, fund manager at Investec Guinness Flight Asia, says: "Asia is in the early stages of a powerful cyclical recovery. The crisis has restored competitiveness as the cost of labour, asset prices and currencies have fallen. "Rising trade surpluses and a pick-up in foreign investment have reduced the foreign debt burden. Inflation has now stabilised at low levels and the revival of domestic consumption is already...