Buying opportunities lie in Asian markets, particularly in China, JPMorgan Private Bank Chief Investment Strategist Kate Moore said Thursday.
"I think sentiment on EM is still really bearish. Yes, the macro has started to move. We're getting that little second-derivative pop. We got that in Europe on growth earlier this year, and that really turned a lot of people around," she said.
"But we're not seeing huge amounts of ownership. In fact, most of the flows are pointing to investors taking money from both active and passive funds in China and in emerging markets so far this year. And until we see that really turn the corner – and with valuations as cheap as they are at nine times forward for China – I still think we have a little bit more room to go."
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On CNBC's "Fast Money," Moore, who has $910 billion in assets under management, said that other Asian markets offered upside.
"We think there are opportunities in Korea and Taiwan, as well," she said. "And increasingly as the market turns and the macro solidifies, we would even be looking in places in Southeast Asia that have been sold off, I think, really aggressively."