BofA_Asia Fund Manager Survey Rational optimism-240319

AccessibleversionAsiaFundManagerSurveyRationaloptimismClearerskiesahead19March2024TheglobaleconomicoutlookcontinuestobuildonpositivemomentumseeninpriorPredictiveAnalyticsmonths,asattestedtobypanelistsintheGlobalFundManagerSurvey(FMS)aswellasAsiaourproprietarygrowthindicators.SeeBofAGPS:Anatomyofabullmarket-PartII28February2024.TheFMSviewontheregionaleconomyimprovedintandem,withayear-RiteshSamadhiya,CFA>>highnet46%oftheparticipantsexpectingtheAPACex-Japaneconomyandnet67%EquityStrategistexpectingtheJapaneconomytostrengtheninthenext12months.MerrillLynch(HongKong)+85235087907Solidreturns,shallowcorrectionsritesh.samadhiya@bofa.comAritraBaksi,CFA>>Thenear-unidirectionalrallyinglobalequitiessincetheOctober-lowshaspushedEquityStrategistmeasuresofinvestorsentimenttoeuphoriclevels(seenote).Yet,contrariansarehardtoMerrillLynch(HongKong)comeby:lessthanaquarterenvisageadouble-digitcorrectionthisyear.Theoptimism+85235087914hasrubbedoffontheregionalequitiestoo.7in8investorsanticipateAsiaPacificex-aritra.baksi@bofa.comJapanequitiestoriseinthenext12months,drivenbyaboostincorporateearnings(netMasashiAkutsu>>59%expectstrongerprofitsinthenext12months)againstabackdropoffairvaluations.StrategistBofASJapanParadigmshift+81362257754masashi.akutsu@bofa.comJapanhasbeen,andcontinuestobe,themarketofchoiceforinvestors,andwithreason,TonyL...