After stints at Credit Lyonnais Securities Asia and Deutsche Bank, Ulrich landed at J.
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"For long term investors, I think China still offers growth, " says Credit Lyonnais Securities Asia analyst Ken Ho.
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Credit Lyonnais Securities says that even assuming lower profit growth of 7.3% and interest rates that are 125 basis points above U.S. rates, the Hang Seng's fair value is a respectable 12, 000 or so.
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