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market | IST

HSBC's Joseph Little says there is lot of unwarranted pessimism among investors at this point

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Joseph Little, chief global strategist at HSBC Global Asset Management Company, says there is lot of pessimism among investors and economists about the outlook for the global economy.

Joseph Little, chief global strategist at HSBC Global Asset Management Company, says there is lot of pessimism among investors and economists about the outlook for the global economy, but that is unwarranted.
"In our view it’s unwarranted at this point. We think people become too pessimistic on what happens in terms of the outlook," Little told CNBC-TV18 on Friday.
“It’s not a straightforward situation for the global economy but we think it looks more like a little bit of a cyclical slowdown rather than a recession or a growth recession,” said Little.
Talking about growth for 2019, Little said, “We have said in the investment outlook which we have shared with clients is that we are going back to reality in 2019.”
“What I mean by that is that the growth outlook looks okay to us. It’s not as strong as we have seen in 2017. We think global growth is going to be around trend levels, inflation remains very subdued but we are going back to more normal levels,” he added.
On the emerging markets front, he said, “There is a lot of pessimism and anxiety about emerging markets within the global investor community at this point.”
According to him, for contrarian investors, "Investors who have got a reasonable medium-term timeframe, emerging market asset classes look really interesting."
 
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