ABN Amro Likes China, Taiwan and Thailand Equities (Bloomberg)

ABN Amro Bank NV’s wealth-management unit is increasing its allocation to emerging market equities, focusing on China, Taiwan and Thailand as they believe these markets offer better value than US stocks. Didier Duret, who helps manage 171 billion euros ($232 billion) as chief investment officer at ABN Amro Private Banking, told Bloomberg in a recent phone interview:

“It’s a cyclical play. We’re ready to increase risk-on momentum. We’ve seen a lot of market stabilization in emerging-market stocks since the beginning of the year, when it was pretty volatile. We’re not of the camp that believes China will have a hard landing. It will be a soft transition… The PMI is confirmation that manufacturing, which is a big driver for China, is not falling back. We’ll see improvements going forward. We’re at the beginning of a manufacturing uplift that will benefit China and the surrounding regions.”

The wealth-management unit of ABN Amro is also buying US REITs and global food and beverage companies like Nestle SA (OTCMKTS: NSRGY) and Starbucks Corporation (NASDAQ: SBUX).

To read the whole article, ABN Amro Bets on Emerging Markets, Buys China, Thailand Equities, go to the website of Bloomberg.


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