Henry F. Chan (Chinese: 陳發中) is an American film and television director. He has directed over 200 episodes of television for all major U.S. networks. In 2013, he directed his first Chinese language film, 100 Days (真愛100天) in Taiwan. (wikipedia)
There is still a chance for loan growth to slow further, but the Chinese government is slowly loosening. If loan growth picks up, it will be good for banks.
Red chips and large industrial shares have been outperforming recently. They have been boring and undervalued, but international investors are beginning to pay attention.
Previously Korea has been one of the leveraged plays on global industrial activity. So, when people were bullish globally, people were even more bullish on Korea.
Historically, you never knew what you were investing in Korea as the balance sheet was unclear. You go into a secondhand kind of a car market and you don't know what you were buying, so the natural thing to do is you paid a discount to everything you looked at.
One thing that tended to surprise a lot of people this year is that the market was going up on the back of very little net foreign inflow.
I think it's a healthy correction, some valuations got a little high.
