MARKET sentiment in developed economies, including the United States, has turned 'greedy' and the share rally is not sustainable, according to an investment expert.

Mr Antoine Broquereau told a seminar on alternative investments yesterday that markets have soared ahead of themselves and could retreat when weak earnings and economic news are announced.

'There's no reason for equity markets to rise while profitability has not hit bottom,' said Mr Broquereau, Societe Generale's head of structuring and alternative investment solutions.

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