China, India among region's best stock markets for investors, says Mobius

Veteran investor Mark Mobius said China, India, Korea, and Taiwan were the region’s most attractive stock markets for global investors, adding that China’s rally looks sustainable due to the nation’s strides in the technology sector. 

“China’s goal now is to overtake the US in technology in high-level chips, in all kinds of AI,” Mobius, who has been investing in developing markets for about three decades, said. “The money is going in that direction, not in the consumers’ direction.” 

He remains a bull on Indian stocks, citing the government’s move to increase spending and investments, particularly in the technology sector. 

Separately, he said gold has become unattractive after its historic rally, warning that a potential rebound in the dollar could undercut precious metals at a time when much of the market remains firmly bullish. 

 

“I will not pick it up at this level, that’s for sure,” Mobius, managing director of Mobius Emerging Opportunities Fund, said in a Bloomberg TV interview on Friday. 

Runwal Developers, six others get IPO nod 

As many as seven companies, including real estate firm Runwal Developers, engineering solutions provider Lalbaba Engineering, and gold and silver platform Augmont Enterprises, have received approval from Sebi to raise funds through IPOs, according to an update released by the regulator on Friday. 

Other firms that secured regulatory clearance include spec­ialty chemicals maker Supreet Chemicals, eco-friendly paper man­ufa­cturer Sillverton Industries, logi­stics services provider CJ Darcl Logistics, and fertility services firm Gaudium IVF, and Women Health. [PTI]

 

Amagi Media Labs IPO booked 30x on last day 

The initial public offering (IPO) of Amagi Media Labs, a cloud-based software-as-a-service (SaaS) company that enables media firms to stream and monetise digital video content, received 30.22 times subscription on the final day of bidding on Friday. [PTI]