Tarting up window displays is not just for shop keepers. Fund managers, too, often dress up their portfolios at the end of each quarter, buying good performers to make their holdings appear prettier. So as Asia rallied yesterday — near the end of the year’s first quarter — index strength could be dismissed as predominantly cosmetic.
会精心布置橱窗陈设的可不仅仅是店主。基金经理也会在每个季度的末尾“盛装打扮”各自的投资组合，买入业绩优良的股票，让所持股票的阵容看上去更漂亮。因此，在亚洲股市昨日（第一季度接近尾声）上扬之际，有人也许对指数的强劲不以为意，视其为主要是“妆容”所致。
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