| During the hour The Australian Financial Review spent with Manraj Sekhon on Monday morning in Sydney, Shanghai's equity market plunged by 4 per cent, dragging other other Asian markets off a cliff in what would become a savage day of trading across the region. "There is a major growth scare going on," said Mr Sekhon, the chief executive of Fullerton Fund Management, an Asian-focused asset manager fully owned by Singapore's sovereign wealth fund, Temasek.
"Markets are paranoid about where growth is coming from. This period will be with us for a while yet – I think the episode we are in is going to get worse before it gets better." Like other investors in Asian equities, Fullerton's portfolios were dragged down on Monday, as markets panicked about the growth trajectory for China's economy after the recent devalution of the renminbi...............................................Full Article: Source
|