Foreign Banks Perk Up
October 18th, 2005 by BWV
As noted last week, I’m stalking the banking sector of several foreign countries for good buy candidates.. primarily in Asia and South America.
The Kookmin Bank (KB) I bought last week is starting to work for me, so it’s time to shop for a few more today.
I just added Mitsubishi Financial (MTU), a big Japanese company, on this little pullback to the 20 day moving avg.
Also watching for good risk/return entry points in BBD, BCH, BBV, SHG, WF, SAN, CIB, BAP, HDB.
Each of those stocks is within 16% of its 52 week high.. a nice sign of strength in the group.
I expect big $ institutions to continue plowing into this sector, as money managers seek alternatives to US stocks.
Long KB, MTU
