Going short Hong Kong and Thai consumer stocks helped the Knight Asia Contrarian Fund to get the year off to a good start with an estimated 3.67% gain in January.
Valuations are demanding for consumer stocks in general in Asia, comments Knight Asia’s Jeremy King. He acknowledges the consumer growth trend but considers it to be fully discounted, and that leaves no room for disappointment.
King expects Asian markets to stay in a trading range at best, with oil and gold stocks the only winners as Middle East contagian exacerbates the inflation spiral. Hong Kong property is overdue