Countries
Malaysia Has Lowest Risk in Asia
The GDP in Malaysia is driven by private consumption and investment. Malaysia has had lower earnings for the past two years and is expected to recover in 2017.
Read MoreThailand is Moderately Attractive in Asia
The GDP in Thailand is driven by exports with investment lagging creating a drag on GDP growth. Analyst consensus is that two years of negative earnings growth will come to an end in 2016. Fundamentals are moderately attractive supported by good ROE and dividend yield.
Read MorePhilippines is Most Attractive in Asia
The GDP in Philippines is driven by private consumption and investment. Philippines has good ROE relative to other Asian countries. High PE and low dividend yield makes it look expensive. Fundamentals are good and valuations are the worst; as fundamentals are not strong enough to support high multiples.
Read MoreKorea is Cheapest in Asia and Strong Momentum
The GDP in Korea is driven by private consumption and investment. The earnings growth outlook is slow after a rebound in 2015. Korea’s ROE is weak at less than 10%. Valuations are below book value and there is great price and earnings momentum.
Read MoreIndia Has Fastest GDP Growth in Asia and Strong Fundamentals
The GDP in India is driven by private consumption. India has the highest earnings growth in Asia and strong profitability. Looking at our FVMR, India is relatively attractive in Asia and is mainly driven by strong fundamentals.
Read MoreHong Kong Has Weak Profitability and High Volatility
The GDP in Hong Kong is driven by private consumption and exports. Hong Kong has the lowest ROE in Asia, but offers the third highest dividend yield. Looking at our FVMR, Hong Kong is currently least attractive in Asia.
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