Count Mark Konyn among a stampede of fund managers in Asia who are ending the year, century and millennium in a bullish mood. WTO helps to reduce the risk premium that foreign investors place on China. It helps to waylay fears about currency and profit remuneration, interference in business and investment, and ad hoc tariffs. And it paves the way for more foreign direct investment in China, which should have a positive effect on Hong Kong because it is still the mainland's main business and investment gateway. WTO is also positive regionally because of its impact on overall trade - although China is not a major trading partner for most Asian countries.
Technology is the high-growth area that investors want to have exposure to.
It's the theme of the moment. At this stage, a lot of the regional Internet-type companies we are hearing and reading about in Asia are just concepts. Hong Kong is still catching up with other Asian markets. But if there is commitment, there will be a benefit at the investor level. Fund managers are eyeing GEM with curiosity.