Investors should use the latest bout of market turmoil to accumulate stocks in the Japanese stock market, according to Peter Oppenheimer, the chief global equities strategist at Goldman Sachs.
Plagued by low inflation for decades, Japan's economy is now seeing improvement for the first time since the 1980s, Oppenheimer told CNBC Tuesday. This, he said, meant that the attractiveness of equity valuations in the Asian country contrasted with their American counterparts.
"Valuations are not that extreme there (in Japan), so I think you've got the combination of a tailwind from policy and from the currency - but actually some real fundamental improvements from corporate profitability," he said.
Japan's benchmark Nikkei 225 index hasn't been immune from the equity turmoil seen in China. The index finished nearly 4 percent lower on Tuesday after weak manufacturing data out of China. Still, the Nikkei is up about 4 percent in year-to-date terms, while on Wall Street, the S&P 500 is down just over 4 percent this year.