Korean banking stocks hold unlocked value

The July sell-off in Asian markets was, in our view, unjustified. The catalysts for this latest reappraisal of the Asian bull market were almost entirely external. Earnings forecasts, particularly those for export sectors such as technology, are rising. As such, we believe the correction will prove to be short-lived. So, we are looking for opportunities to add exposure to our favoured stocks and regions during periods of weakness. To be more specific, we remain very positive on Korean stocks. Despite per-capita GDP of almost $17,000, only around 10% of Korea's household wealth is currentl...