Investors uncertain about Asian equity rally

While Asian shares, riding on the global rally, have jumped the highest in a decade, warnings on complacency come laced with hopes for further highs.

“The global economy is in pretty good shape and global equity markets are scaling to record highs on rising optimism, but one must not be over complacent. Rich valuations raise the likelihood of a market correction, should there be policy missteps or a protracted period of policy uncertainty which can dampen economic growth and confidence,’’ said Lee Heng Guie, executive director, Socio Economic Research Centre.