Wednesday, 2 September 2009

Mkt may see 'healthy' correction; buy on dips: AMP Cap

The markets may enter a consolidation and could witness the traditional September weakness, Shane Oliver, Head Investment Strategy, AMP Capital Investors, said. In an interview to CNBC-TV18, Oliver said a 5–10% correction could take place, which would be ‘healthy'. “Investors must use the correction to buy on dips.”

Emerging markets, he said, were more vulnerable to severe corrections but added that EMs’ fundamentals remained strong.

Chinese remained a favourable market despite the recent correction, Oliver said, and added that while talk about the monetary tightening was a concern, there may not be an aggressive tightening by its central bank.

Source: Moneycontrol

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