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Positive underpinnings for equities in Asia: BNP fund manager

Reform, policy easing, cash-rich corporates are key factors.

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Mr Kwong says Asia ex-Japan is trading at a P/E multiple of around 12 times, compared to the US' 17.7 times and the MSCI World's 16 times. The average dividend yield is 2.6 per cent, higher than the US' 1.9 per cent and 2.4 per cent for the MSCI World.

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

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