ASIA ex-Japan equities have finished a challenging year behind their developed market peers. However, the weak performance masks divergent returns across the region’s markets, reflecting the wide range of market drivers at play.
There are compelling stock valuations and fundamentals in various parts of the investment universe, which support a constructive view from the bottom up as we enter 2024.
Lower correlations across markets
We have long viewed Asia ex-Japan equities as a diverse asset class, and we believe the region’s markets have become even less correlated in the past few years.
China’s economic cycle has become increasingly more distinct from the rest of the world, and we have...
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