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Asian stocks' valuations rise for 4th month in December - Refinitiv data

Published 01/03/2020, 02:28 PM
Updated 01/03/2020, 02:32 PM
Asian stocks' valuations rise for 4th month in December - Refinitiv data
MIAP00000PUS
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Jan 3 (Reuters) - Asian equities' valuations climbed for a
fourth straight month in December, as easing U.S.-China trade
tensions and an improving global economic outlook whetted risk
appetite.
MSCI's broadest index of Asia-Pacific shares .MIAP00000PUS
rose for the fourth successive month, pushing its 12-month
forward price-to-earnings ratio (P/E) to 14.2 times, the highest
since January 2018, Refinitiv data showed.
Valuations of Indonesian shares jumped the most among Asian
markets, making them the most expensive after India and
Malaysia. As of Jan. 1, India, Malaysia and Indonesia traded at
P/E ratios of 16.84, 16.11 and 15.98, respectively, the data
showed.
On the other hand, China, Hong Kong and South Korean shares
were the cheapest, with P/E multiples of 9.74, 11.17 and 11.39,
respectively.
Appetite for Asian shares improved last month as the United
States and China agreed on a preliminary trade deal on Dec. 13
to end their 17-month-long trade war. The deal is expected to be
signed on Jan. 15. Market sentiment was also aided by signs that global
economic conditions will improve in 2020. China's manufacturing
activity expanded for the second straight month in December,
while its industrial production rose 6.2% year-on-year in
November. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Valuation of Asian equities https://tmsnrt.rs/39yhi04
MSCI Asia and World PE https://tmsnrt.rs/2rQuyfI
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

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