Hong Kong GDP up 4.2%
Source: http://blogs.moneyandmarkets.com/blog/china-and-asia-stock-alert/0/0/hong-kong-gdp-up-42Posted on Monday, August 18th, 2008 | In Asia
Contributed by: Tony Sagami (http://blogs.moneyandmarkets.com/blog/china-and-asia-stock-alert) -
Hong Kong’s GDP increased by 4.2% in the second quarter. That well below the 7.3% in Q1 and the 5.3% forecast.
The majority of China’s export-related businesses are located in southern China so I’m not surprised to see Hong Kong (the shipping gateway of South China) slow down along with the manufacturing slowdown.
The companies you want to own are the ones that benefit from domestic growth instead of foreign trade.
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 About Tony Sagami (http://blogs.moneyandmarkets.com/blog/china-and-asia-stock-alert)
Tony Sagami, a veteran investment advisor and a leading expert on Asian markets, is the owner and founder of Harvest Advisors, an investment research and money management company. Mr. Sagami has been managing money for more than 20 years and is one of the early pioneers in the application of technical and quantitative analysis to mutual funds and stocks. He is a featured contributor to Weiss Research’s daily e-letter, Money and Markets and monthly Safe Money Report as well as the editor of Asia Stock Alert. Prior to establishing his own firm, Mr. Sagami was managing director at W.E. Donoghue & Co, serving additionally as the director of investment. During his successful career, he also held the position of account executive at Merrill Lynch. Mr. Sagami’s views on Asian markets, specifically Chinese investments, have been featured in publications such as The Wall Street Journal, Barron’s, Kiplinger’s, Smart Money, Business Week, New York Times, Washington Post, Investors Business Daily, Bloomberg, Financial Planning Times, Mutual FundsMagazine, Chicago Tribune, and the LA Times, as well as on CNBC and CNBC Asia. Mr. Sagami holds a degree in economics from the University of Washington. |
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