Asian markets have room to rise further, fund manager says
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Do record market highs in Hong Kong, South Korea and China mean investors should pull out their money? Not according to Excelsior Funds' Donald Elefson. The portfolio manager of the
Excelsior Emerging Markets Fund -- rated four stars by Morningstar -- told "Street Signs" viewers why the Pacific Asian markets are still fertile investment ground. Elefson told
CNBC's Melissa Lee that the Eastern markets aren't heading for a bubble, but instead, will "broaden out" -- away from the large-cap "well-known names, leading the
charge" in the last few years, and into smaller mid-cap firms. Elefson described a new direction in Asian finance: away from exporters. He said recent years' successes have created
great liquidity -- which has bred "domestic-oriented" re-investment. His plays on this inward turn include South Korea's HANA FINANCIAL and SK TELECOM.