Top Asia fund manager: This stock selloff is a time to buy – BBG

Dhwani Mehta FXStreet

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.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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