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Publishing date: Jul 16, 2021 • 4 hours ago • 3 minute read •
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(Bloomberg) Asia’s two biggest economies are showing some signs of getting to grips with problems that weighed on their financial markets in the first half of the year, and that may bode well for their equities.
That’s the view of UBS Global Wealth Management and Aberdeen Standard Investments Ltd., which cite encouraging earnings growth in China and a pickup in vaccination rates in Japan among reasons for their optimism. Japanese equities are the most preferred asset class in UBS Global’s universe, due to attractive valuations and expectations for a rebound in consumer spending.
Earnings growth in Asia could jump by more than 20% this year, say UBS and Goldman Sachs
Earnings growth in Asia will bounce back this year and could jump by more than 20% as the regional economy recovers, according to top wealth managers UBS Global and Goldman Sachs.
“We are looking for a strong earnings recovery across all major regions of the world,” said Tan Min Lan, Asia Pacific head of chief investment office at UBS Global Wealth Management. “In Asia itself, earnings actually were remarkably resilient in 2020, actually it fell by 1% versus the global earnings which declined between 25% to about 30% in some of the key regions.”