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ASEAN STOCK WATCH 20  September  2010

ASEAN Markets May Rally 30 Percent in 2011

Shayne Heffernan

Shayne Heffernan of Ebeling Heffernan has today predicted the Dow Jones Index to break 13000 in 2011 and that ASEAN Exchanges could add upto 30 percent in the coming year.

This week’s news has given Ebeling Heffernan a strong indication that an economic recovery is indeed underway in the USA, despite the media’s reports and comments about a pause.

Over the last 2 month we have also seen ASEAN markets surge ahead despite a struggling US market, not that the USA is on the road to recovery nothing will hold back local expansion. ASEAN markets are set to see their greatest year so far in 2011.

AFTA, CAFTA and the remaining free trade agreements have been a huge bonus for the region, now with growing trade to India one has to look at the Asean Exchanges as extremely undervalued.

The US IBD/TIPP Economic Optimism gauge on Tuesday was 1.2 points higher than expected, USA retail sales also beat forecasts. Wednesday saw a minor slowdown in industrial production, but yesterday’s PPI, unemployment claims, and TIC long-term purchases reports all showed forecast-beating growth in the US economy.

This is just the start of stronger economic growth in the USA plus we have to factor in the boom in Asia and a recovering Europe, the net result is that the Dow will break 13000 in 2011 without doubt.

What about unemployment? as Paul Ebeling has detailed to EH readers and clients, if you wait for strong unemployment numbers, you have missed the rally. Uneployment has been proven time and again to be a lagging indicator.

The Standard & Poor’s 500, which has gained 0.5 percent this year, remained 7.9 percent below its peak for 2010 on April 23. The Dow, which has rebounded 9 percent since reaching its 2010 low on July 2, is still down 5.7 percent from its April high.

Based on the Global growth statistics the USA companies look extremely under valued, if you also factor in the Index value to the USD you end up with a huge gap of where we are and where we should be, the market will correct that gap in the next year pushing the Dow over 13000.


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