Asian equities' valuations still cheaper than its global peers - Refinitiv data
April 2 (Reuters) - Asian stocks valuations' rose on the
back of a strong rally in the first quarter of 2019, but
regional equities still look attractive compared with global
peers, Refinitiv data showed.
MSCI's broadest index of Asia-Pacific shares
rose about 9 percent in the first quarter of
2019, its biggest quarterly gain since January-March 2012. That
propelled the index's forward price-to-earnings ratio (P/E) to a
10-month high of 12.89 at the end of March.
However, it was still less than the MSCI All Country World
index's forward 12 month P/E of 14.78, the data
South Korea, Hong Kong and China were the lowest-cost shares
in the region, with P/E multiples of about 12 or less.
India and Malaysia were the most expensive, with ratios of
18.3 and 15.8 respectively.
"The region trades at a steep discount to global equities,"
DBS Bank said in a note.
"The China equity market is particularly attractive on
aggressive policy tailwinds and MSCI index re-weighting," it
(Reporting by Patturaja Murugbaoopathy and Gaurav Dogra in
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