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Distributed: Feb 21, 2011

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Sydney, Feb 21, 2011 (ABN Newswire) - The equity market has started the weak with a heavy tone. While a return to bullish sentiment can be expected at some point through the week, the increased public outcry against several governments in the Middle East over the weekend are bound to cause investors some pause. It is most likely that any down turn in prices over Monday Tuesday are an opportunity to buy, as the global economy will not be slowed by these geopolitical developments.

In Asia today there is the added weight of HSBC signaling that Chinese equities should be avoided until the second half of the year due to the expected actions there to calm inflation. The Herston Economics view is that China will maintain very strong growth of 10% this year despite these developments, and so again Clifford Bennett suggests these represent good buying levels, with a move above 2,980 on the Shanghai composite index likely to start a fresh bull rally to 3,300 3,600 this year.

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Clifford Bennett
Herston Economics

ABN Newswire
Tel: +61-2-2947-4344
Fax: +61-2-9247-4511

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