June 4 (Reuters) - Valuations of Asian equities ended May at
a four-month low, as regional shares slumped after the United
States raised tariffs on Chinese goods, stoking concerns about a
global economic downturn.
At the end of last month, Asia's forward price-to-earnings
ratio (P/E) stood at 12.5 times, the lowest since January, data
from Refinitiv showed.
MSCI's broadest index of Asia-Pacific shares .MIAP00000PUS
fell 6.2% in May, its steepest monthly decline since October
2018.
Indian and Malaysian stocks were the most expensive with P/E
ratios of 17.4 and 15.8 respectively.
On the other hand, China and South Korea were the cheapest
in the region, the data showed.
DBS Bank said it liked markets which are domestic demand
oriented and where valuations are attractive enough to cushion
the downside.
The brokerage said China, Singapore, Indonesia and
Philippines are its favoured markets.
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