Emerging market rerating continues in Asia

Credit Suisse says equity markets in South Korea and Taiwan are due for an upgrade.
It is our view that some countries considered to be emerging markets present characteristics more similar to developed markets, but are still valued at steep discounts. A good example is South Korea which trades at a discount of 25% to the Eurozone.

The Korean market has risen strongly. We see this as the initial phase of a medium term re-rating, allowing the valuation gap to close over time, helped by higher economic growth and solid macroeconomic fundamentals.

Investors tend to think in established boxes. One of these boxes applies to emerging...

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