But Asia is more economically diverse than Europe and the U.S., and there are still bright spots in the region, especially in Japan and South Korea.
It added Asian economies "by and large" avoided qualitative easing on a large scale, leaving the region in better stead in terms of fiscal sustainability, inflation challenges and financial system health. This view is also shared by analyst Daniela Gombert from asset management company DWS, which said that "over a horizon of twelve months, Asian and European stock markets appear to be much more promising than the U.S. market."Specifically for Asia, Gombert points at the Japanese stock market, saying that "Unlike roughly 30 years ago, valuations are far from being as exaggerated as they used to be back then.
The Bank of Japan will also be closely watched, after Governor Kazuo Ueda took the helm earlier this year. Ueda is widely expected to walk the BOJ out of its ultra-dovish monetary policy, although he has made no changes to the BOJ's policy thus far.
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