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Outlook for Asia much rosier than western markets, says Newton

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The outlook for Asia looks considerably rosier than it does for more mature western markets, according to Jason Pidock, lead manager of the Newton Asian Income and Newton Oriental funds

The outlook for Asia looks considerably rosier than it does for more mature western markets, according to Jason Pidock, lead manager of the Newton Asian Income and Newton Oriental funds.

‘One of the big differences between East and West right now is that there is no ‘credit crunch’ in Asia. While the West has seen access to credit become severely constrained, there are few such restrictions in Asia. Meanwhile, China has engineered a credit boom so far in 2009, with very high levels of bank lending,’ Pidock says.

Pidock says China could see four consecutive quarters of stronger than expected growth. He also believes that India will escape the recession this year, although both China and India have seen marked slowdowns in growth.

Newton expects the value of income paid from the Asia Income Fund to fall by around ten per cent. It also expects the dividend yield to be about 5.8 per cent compared to the regional index yield of about 4.3 per cent.

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