ASIAN equities are currently under-owned, but are expected to stage a bull run over the next five to 10 years, says BNP Paribas Investment Partners head of Asia Pacific equities Arthur Kwong.
At the moment, investment strategists' recommendations centre on Europe, the United States and Japan. But there are a number of factors in Asia's favour, he says, such as economic reform, policy easing and corporates flush with cash.
Asian companies, for instance, are estimated to sit on nearly US$1 trillion in cash on their balance sheets. "They'll do three things with the cash - buybacks, M&As and a dividend increase. All these benefit share price and make me bullish."
Recent portfolio flows into the emerging...
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