Alan Richardson, who oversees about $446 million for Samsung Asset Management Ltd. in Hong Kong, said in an interview with Bloomberg, the four-day decline in the Asian equity markets is nothing more than investors locking in profits before they close their books for the year.
Richardson noted: “This is merely profit-taking before the year-end. This is an opportunity to accumulate good stocks for stronger growth in 2018. We are still in the early stage of a fundamental recovery.”
The region’s benchmark gauge has lost more than 2 percent in four straight days of declines.
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