|Bid||64.00 x 0|
|Ask||65.60 x 0|
|Day's range||63.86 - 64.96|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
(Bloomberg) -- It’s a good time to look at buying Alibaba Group Holding Ltd. shares as Softbank Group Corp. reportedly prepares to sell some of its holdings, according to veteran emerging-market investor Mark Mobius.The Chinese e-commerce giant, which has American depositary receipts listed on the New York Stock Exchange, is a prime example of a firm expanding its global presence, Mobius said.“It’s probably a good idea to look at Alibaba at this stage,” Mobius, who set up Mobius Capital Partners last year after three decades at Franklin Templeton Investments, told Bloomberg TV from Cape Town. With Softbank said to be selling about $14 billion in shares, “the price may get weaker and it would be a good example of a company that is truly becoming very global,” he added.Mobius also anticipates strength in gold. Its recent sell-off alongside risk assets such as stocks and oil is a sign of pure panic, with investors selling everything as the coronavirus pandemic spread, he said.“I think it’s a mistake. People should have gold and this may be a good time to increase holdings in gold -- in fact I’m thinking that myself,” he said.More broadly, Mobius said he was readjusting his portfolios with selective investments.“It’s a good time to be picking up some of the bargains and getting rid of some of those things that you are not too excited about,” Mobius said. “But the idea is not to reduce cash too dramatically.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Investors should allocate about 10% of their assets in physical gold, Mobius, who manages about $4 billion in assets, told the Reuters Global Markets Forum in an interview on Saturday. Mobius, who is in Mumbai to promote his book "Invest for Good", also said cryptocurrencies would gain in favour. Q: August was a horrible month for emerging markets.