Asia's turn to drive the bulls

FOR a long time, developed market equities led the equity market bull run. The US market led the way first, driven by the clear recovery in its economy, with strong job creation, the benefits of increasing energy independence and the perception that the US dollar should be strong. Then European equity markets had their turn in the driver's seat, as markets reflected signs of recovery in Europe's previously fragile economies, and fears of the worst-case scenario, a break-up of the European Union, dissipated.

It is now Asia's turn to drive the bull market forward.

There are several reasons, which I will lay out here.