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Morgan Stanley: China Stock Market Slump Normal
Mario Francescotti, president and managing director of Morgan Stanley Dean Witter Asia Pacific, Wednesday said in Beijing that the recent slump of China stock market is just a rectification to the original over-high prices which have exceeded the actual value of the stocks and an adjustment aimed at bringing the prices back to the normal level.
In Mario Francescotti's opinion, people should not observe the stock market situation in only a short period of time, instead, they should do that for a period of at least over one year. A year ago, China's stock price rose a lot, despite the current price dive, the stock market situation remains very good as a whole.
He noted that presently, the economies of various countries around the world have seen not much growth, and it is estimated that there will not be tangible improvement in the coming year or so. However, we anticipate that China's economy will continue to grow, the Chinese market is strongly attractive to the investors worldwide.
Morgan Stanley Dean Witter is a global financial corporation having its headquarters in New York. It has 600 branch offices across the world. Its three major businesses--securities, assets management and credit card services-all lead the world. In 2000, Morgan Stanley Dean Witter assisted Asia INFO, sina.com, SINOPEC and China Unicom in listing stocks overseas.
By PD Online staff member Du Minghua
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