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From Komfie Manalo, Opalesque Asia:

Credit Suisse equity strategists on Tuesday (24-Mar-09) reiterated their ‘overweight’ call on Non-Japan Asia and their view that China’s economy was more resilient in the face of global economic distress and would lead the global economy out of recession.

In a press statement issued on the sidelines of the Asian Investment Conference, Andrew Garthwaite, global equity strategist at the bank, said that a majority of leading indicators were showing signs of bottoming out, creating potential opportunities for investors.

Garthwaite explained Credit Suisse’s positive outlook for Non-Japan Asia and said that the region has considerable macro-economic flexibility, relatively little leverage on domestic balance sheets when compared to other parts of the world, and undervalued currencies.

He added that a greater proportion of increasing corporate profitability in Asia before the crisis had been more structural than in other regions and reasoned that the openness of Asian economies – or their relative dependence on exports – had been exaggerated.

The strategist stressed the resilience of Chinese GDP growth and said that China exemplified many of the region’s strengths. He cited the scale of China’s potential policy response to the economic downturn as a result of government debt worth just 1......................

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