Weak Asia-Pacific economies offer attractive long-term buys
Asia-Pacific economies are expected to remain weak this year but continue to offer an attractive buying opportunity for long-term investors, according to Fidelity International’s Asia Pacific CIO Kathryn Matthews.
She said the market weakness of recent months offers “some companies and industries attractive growth opportunities at very reasonable valuations”.
“Asian stocks are very cheap and some of the large cap quality names are being traded at similar levels to their smaller-cap counterparts.
Asia has strong underlying fundamentals, compared to other global markets, which will underpin its future growth, Matthews said.
“While volatility is expected to continue, there’s a lot of cash on the sidelines, and once we see a recovery in confidence and increased investor flows Asia-Pacific markets are likely to benefit,” she said.
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