South East Asia and Pacific funds hit hard in 2008

The 12 months to the end of October 2008 were extremely challenging for investors in South East Asia...

The 12 months to the end of October 2008 were extremely challenging for investors in South East Asia and Pacific equities. Having posted strong gains up to October 2007, Asian equity markets have been falling sharply ever since. Those that gained the most in 2007 corrected the furthest in 2008. China and India, for example, led the way in 2007 but were down between 45% and 50% in US dollar terms over nine months to 1 October 2008. Conversely, Japan trod water for most of 2007 but was the best-performing major market in the region in 2008, falling just 22% in US dollar terms. The same ...