GAINESVILLE, Ga., February 23, 2010 -- Elliott Wave International analyst Mark Galasiewski will use Elliott wave analysis to describe what lies ahead for Japanese and East Asian markets at the CLSA Japan Forum in Tokyo, on February 25-26, 2010.
"I believe that asset prices will start falling later this year, but not for the reasons that financial observers usually trot out," he says. For instance, he does not see a relationship between the price of crude oil and most equity markets.
Some observers have begun to compare the current high asset valuations in Asia with those that preceded the 1997-98 collapse. But Galasiewski says, "They are wrong about the cause of the current valuations and naive to think that anything can be done to bring them down smoothly." In his outlook, he will debunk two myths that came out of the 1997-98 Asian Financial Crisis: first, that the yen carry trade caused asset bubbles in Asia in 1997 and, second, that the Bank of Japan caused the yen carry trade.
The nine-month-long rally in Asian markets followed an 18-month drop in prices. Galasiewski turned bullish and called the turn in Asian markets on March 23, 2009, nine trading days after the low in the MSCI Asia-Pacific stock index. He now predicts that the bear-market rallies in most Asian markets are coming to an end.
In his talks, scheduled for Thursday and Friday, February 25-26, Galasiewski will introduce the Wave Principle concept and then use it to forecast Asian stock markets and currencies.
CLSA is an independent brokerage and investment firm headquartered in Hong Kong with 19 locations across 15 countries. Its Investors' Forum will run from February 22 to February 26, 2010.
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About Elliott Wave International (EWI) Based in Gainesville, Ga., EWI is the world's largest market forecasting firm that specializes in Elliott wave analysis, a form of technical analysis based on crowd psychology and pattern recognition. EWI's analysts provide around-the-clock forecasts of every major market in the world. Learn more at www.elliottwave.com.
Mark Galasiewski (pronounced 'gala-SHEV-ski') edits EWI's Asian-Pacific Financial Forecast. He began his analytical career in 2001, researching fundamentals at an institutional brokerage. After joining EWI in 2005, he first contributed to Robert Prechter's Elliott Wave Theorist and then began covering Asian stock indexes. He is fluent in English and Japanese and conversant in Mandarin Chinese.
Note to Media: To arrange an interview with Mark Galasiewski in Tokyo, contact Alexandra Lienhard, 770-536-0309. She can provide the January 2010 Asian-Pacific Financial Forecast, which lays out the arguments he will present in Tokyo.