Mark Mobius

China stocks will continue to lead a global recovery after gains this year propelled it into a “bull market,” Templeton Asset Management Ltd.'s Mark Mobius said. China may be the best performer this year among the BRIC nations, which include Brazil, Russia and India, even if the market undergoes 'corrections,' Mobius said. Russian stocks also look “very undervalued,” even after their gains this year, he added.

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Mark Mobius, whose Templeton Asset Management Ltd. has invested in Thailand for two decades, said stocks in Southeast Asia’s second-largest economy are cheap and the currency is undervalued by 14 percent.  'We like Thailand because we buy cheap stocks with a cheap currency,' Mobius, who helps oversee $20 billion in emerging- market assets at San Mateo, California-based Templeton, said at a seminar in Bangkok today. 'That’s why we are in Thailand.'

Mark Mobius is leading a return of fund managers to India as the nation's biggest banks say demand for cars and homes will help them ride out a global recession. 'Domestic industries can build high profits and growth,' Mark Mobius, who manages more than $24 billion in emerging- market assets as executive chairman at San Mateo, California based Templeton Asset Management Ltd., said. He is buying Indian consumer-related stocks.

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Brazil's financial markets have fallen by 50pc since its all-time high in May. The local currency, the real BRBY, has shed a third of its value since touching a nine-year high in early August and this week a Brazilian trader shot himself on the trading floor at Sao Paulo's Bovespa stock exchange. Mark Mobius, the emerging market specialist from Templeton Asset Management reckons that Brazil offers a great opportunity for investors with nerve.

Mark Mobius said he sees bargains in Russia, China, Brazil, India, Turkey and South Africa and is ready to start buying after a record plunge in emerging-market stocks. 'We now have too many things to look at so we are picking the ones that are most down,' Mobius, who oversees about $30 billion in emerging-market equities at Templeton Asset Management Ltd., said in a interview from Rome. 'If you look at valuations, you can see these stocks are at a point where maximum pessimism is playing a big role. I think we'll be very happy a year or two from now.'

The financial storm of the last week has smacked valuations down to attractive levels, particularly in Brazil, Thailand and Turkey, said Mark Mobius, executive chairman of Templeton Asset Management. In response to email questions on Wednesday, Mobius said markets are closer to the end of the financial crisis after a bankruptcy filing by Lehman Brothers massive industry consolidation and the bail-out of American International Group.

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Mobius tells Maria Bartiromo why Brazil is the most exciting developing market and which other global spots are enticing plays.

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Turkish, Russian and Polish stocks are the most attractive in emerging Europe, high-profile emerging markets fund manager Mark Mobius said on Friday. Templeton, which holds $400 million in Polish stocks, owns less than 5% of PKN as well as stakes in satellite navigation company Techmex and ING Bank Slaski, a unit of ING Group, he said. Mobius added Polish banks were unattractive at the moment because of their heavy mortgage lending and said Templeton Asset Management, an arm of Franklin Resources Inc, prefers their Thai and Brazilian peers.