South Korean and Hong Kong stocks led the Asia-Pacific region in May with gains of 6.44 percent and 4.25 percent, respectively. Buoyed by Moon Jae-in's presidential election win in May and inflows of near $8 billion this year, South Korean equities surged 26.35 percent year-to-date in dollar terms, followed by Indian equities which rose 24.81 percent in the same period.
However, South Korean stocks have also turned the most expensive in the Asia-Pacific with a price-to-earnings ratio of 20.21, followed by Philippines at 19.46 and India's 19.36. Price-to-earnings ratios are calculated based on the current year's estimated earnings.
Asian markets performance: tmsnrt.rs/2syXi88
Asian markets valuations: tmsnrt.rs/2syJ8EaAsian markets-Analyst revision scores: tmsnrt.rs/2rZtPr2 (Compiled by Gaurav Dogra and Patturaja Murugaboopathy; Editing by Sherry Jacob-Phillips)
This story has not been edited by Firstpost staff and is generated by auto-feed.
Published Date: Jun 06, 2017 22:08 PM | Updated Date: Jun 06, 2017 22:08 PM