Asia: Hard To Be a Pessimist Amid Low Valuations, Says Citi

As this is written, political developments in India raise hopes for a stable government after the 2014 general elections. The country’s BJP party put up a strong showing in state elections, fueling expectations that stock indices would touch a new high.

China’s upbeat economic data

Meanwhile, China reported that its trade surplus rose to the highest level in nearly five years in November, climbing to $33.8B from $31.1B in October and handily beating consensus estimates of $21.7B. Exports were...