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Sunday, May 10, 2009

Asian Stocks due for Correction - EWI APFF May 2009

Extracts from May 4, 2009 Bloomberg News:


Asian stocks are on the “final leg” of a rally from their March lows and face a “correction” by the middle of the month, Elliott Wave International Inc. said in its May Asian-Pacific Financial Forecast Report released on May 1, 2009.


“Corrections are due in most Asian-Pacific indexes by mid- May, and they should last through the end of the month and possibly into June. “Thereafter, the multi-month rally should resume.”

Benchmark indexes in South Korea, China and India are among others that may decline as volumes and the rate of change slows, according to the report.

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