J.P. Morgan has an optimistic outlook on Asian stocks, with South Korea and India positioned to perform particularly well going into 2020.
Still, J.P. Morgan said its 2020 year-end target for the index — which tracks large and mid-cap stocks across Asian markets, including China, Korea, and India — is roughly 8% above current levels. But Sullivan told CNBC that the environment could "get significantly more difficult" in the back half of the year.