Analysts at Morgan Stanley had picked out Japan as the Asian market they liked best for 2017 heading into the year. However, as the year has moved on, this recommendation has not worked out as expected for various reasons, despite rising earnings expectations in the Land of the Rising Sun.
Even though Japanese equities have returned around 11% this year (21 August), they're still trailing Chinese stocks, which have returned around 35% as the country's efforts to curb leverage in the corporate sector and restrain the supply of commodities, to improve profit margins for industrials, have paid off. Mexico is the second best performing region with a return of 28%.
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On a sector basis, Tech has produced the best returns...
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