Investors trawl for bargains in depressed Asian markets

While many crowd on the sidelines, low valuations prove tempting for brave buyers

Many market observers expect pressure on companies could still get worse before a real recovery. © Reuters

NARAYANAN SOMASUNDARAM, Nikkei Asian Review chief banking and financial correspondent

April 3, 2020 17:58 JST

HONG KONG -- The Indian managers of PPFAS Mutual Fund have been putting its cash to work since late March, buying beaten up technology and consumer stocks on domestic and international markets.

"Everyone is glued to their television screens and focused on the harmful impact of the coronavirus," said Rajeev Thakker, chief investment officer of the $320 million fund. "Positives such as low valuations, massive (government) stimulus and low energy prices are all being completely ignored."