中国 attracts 激怒（する）ing bulls

By Daily Mail Reporter
Updated: 00:00 BST, 4 April 2004

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ASIA is the world's にわか景気 continent. 経済成長 is スピード違反 ahead, led by the 巨大（な） 中国. 株式市場s are racing 上向き. The 危機 of 1998, when 通貨s 崩壊（する）d like ninepins and 経済成長 （機の）カム to a shuddering 停止（させる）, seems a long way away.

The 株式市場 is t ruly 激しい. 株 in PICC 所有物／資産／財産 & 死傷者, a Chinese 保険会社, were 136 times subscribed when they floated in November. 航空機 製造者 AviChina was subscribed 155 times.

There are worries that a 泡 is forming, but the underlying economies are growing 堅固に, 利益／興味 率s are low and 通貨s tied to the 沈むing US dollar are 上げるing 輸出（する）s.

Alan Young, of the £1.3bn 同盟 信用, tells me it made more than 100% on some Chinese 在庫／株s last year.

For small 投資家s, buying individual Asian 在庫／株s is risky. Better to find a 基金 経営者／支配人 with proven 技術s.

Aberdeen 資産 管理／経営's Hugh Young is one. In stark contrast to the group's ill-starred 分裂（する） 資本／首都 基金s, his Aberdeen New 夜明け has been at the 最高の，を越す of the 業績／成果 （米）棚上げする／（英）提議するs for years. At 293 1/2p, it sells at 4% below 資産 value.

A more 思索的な 投機・賭ける is London Asia 資本／首都 , a grandiose 指名する for a small, but 利益／興味ing, company.

初めは Netvest, it was one more dotcom 投資家, but after the usual にわか景気-to-破産した／（警察が）手入れする - the 株 went from 315p to 1 1/2p - it was taken over by Simon Littlewood, an accountant with a 網状組織 of Asian 接触するs, and reborn as LAC. It has three offices in 中国, where it is led by 勝利者 Ng. Its 目的（とする） is to build a Chinese 投資 bank.

With £13m market value it has a long way to go. It has yet to get a licence, without which it cannot float companies in 中国.

What it does have is a string of 火刑／賭けるs in small companies. Beijing Success is a 株 分析 ソフトウェア group that 報告（する）／憶測d £1.2m 逮捕する 利益（をあげる）s in the year to June 2003. It is hoped to float in Singapore this summer and LAC's half-火刑／賭ける could be 価値（がある） 13p a 株.

It is building up Biaoqui, a マスコミ and advertising 商売／仕事. It has attracted 中国 動きやすい as a partner in Biaoqui Century Data, which 監視するs 汚染 through a 衛星 phone system and which Littlewood sees becoming a major 商売／仕事.

To become an 投資 bank, LAC will need to raise m 鉱石 money. If the Asian 泡 bursts, its floats could join a long 列. It could 落ちる foul of the mysterious 新たな展開s of Chinese politics.

But if it 後継するs, it could become a 企て，努力，提案 的 for a Western bank keen to go East. At 17 3/4p, the rewards could 越える the 危険s.

Lawrence may bring home bacon

FOR many years the most exciting thing about Lawrence, the 化学製品s 輸入するing group, was the cat litter it sold.

But now there seems to be no stopping the 株, which have quadrupled to 404p, taking the market value above £100m.

The excitement is about Aivlosin, an 抗生物質 for pigs and 女／おっせかい屋s made from fermented soya. It is a Japanese 麻薬 but Lawrence's 50%-owned Eco offshoot has 20-year 権利s to make and sell it.

The market is 抱擁する. Tylosin, the 現在の leader, has £160m sales.

Lawrence hopes to 勝利，勝つ EU 是認 for Aivlosin this year, with the US に引き続いて in 2005.

利益（をあげる） 利ざやs are high and Aivlosin already has 70% of the market in Japan.

David Pannell, at 仲買人 Durlacher, can see Lawrence 株 reaching £5 or £7.

But hang on. Aivlosin has not arrived yet. Regulators are 悪名高くも 傾向がある to 延期する in （疑いを）晴らすing new 薬／医学s. 競争相手s will hardly stand still.

This is not for 未亡人s and 孤児s. But the bulls have the bit between their teeth, 示唆するing there is still upside.