Asian bull market investors still cautious.

<P> Asian stock markets rose sharply, to promote the stock to reach 16-year high last week, and this is deepened fears: high valuations, rising interest rates and the appetite of foreign investors becoming small, may make the area a long .during the bull market ended. .</ P> <P> analysts and investors said the Asian economic and business conditions improved in the drive, experience in the Asian stock markets rise more than 3 years, the market may be entering a period of instability. .</ P> <P> "The best scenario is ... ... the market may in the next 6 to 9 month period rest, and showed lateral movement." HSBC Bank (HSBC) • Pan-Asian equity strategist Gary .Evans (Garry Evans), wrote in a recent report, "Asian stock market investors should be more cautious." </ P> <P> analysts stressed that the current bull market in Asia this round proved that the regional economy and .financial sector recovery. .Earlier in the area suffered from 1997 to 1998 financial crisis, and by the Internet bubble burst in 2000 and the SARS virus in 2003 dealt a heavy blow. .</ P> <P> their view, the Asian stock market volatility and risk reduction, and the region's strong economic performance, making plenty of money market favored by foreign investors. .</ P> <P> "Asia has never had such a good state," Merrill Lynch (Merrill Lynch) Asia-Pacific chief equity strategist at Bai Huaishuo (Spencer White) said, "now has shares and growth opportunities .not many, but there are too many money trying to explore this opportunity. "</ P> <P> According to the Emerging Portfolio Fund Research (Emerging Portfolio Fund Research) data, the Asian emerging markets this year has attracted 13 billion net foreign .U.S. dollars of new investment, capital flows in emerging markets more than 50% of the total. .</ P> <P> Japan also benefited from a lot of foreign buying, as overseas fund managers began to use the Japanese economy is still in the initial stages of recovery, the stock market, Japan has attracted over 32 billion dollars in new investment. .Under the impetus of these buying, Tokyo Stock Exchange Index (Topix) earlier this month has hit a 14-year high. .</ P>.