Mobius Buys Stocks, Says Global Economy Is `Healthy' |
| Bloomberg - Aug 28, 2007 |
The global economy is ``very healthy'' and the credit crunch stemming from U.S. mortgage losses has ``almost passed,'' said Mark Mobius, who oversees $30 billion at Templeton Asset Management Ltd. in Singapore.
``We're pretty bullish,'' he said during an interview from Hong Kong. ``Markets are probably going to surge ahead to new highs barring any other unforeseen circumstances.''
The fund manager said he has purchased shares of energy companies Sinopec Shanghai Petrochemical Co., PetroChina Co. and Petroleo Brasileiro SA during the market rout of the past month. South African shares and those of Chinese companies traded in Hong Kong are among the most attractive in emerging markets worldwide, he said. Mobius added that U.S. shares are ``not very expensive.''
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- Posted: 2007-08-28 10:31:08
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