JPMorgan Buys Korean Stocks Trading at Cheapest Since 2009.
The lowest South Korean equity valuations since 2009 are spurring JPMorgan Asset Management and Charlemagne Capital Ltd. to buy as earnings projections climb to a record and a weaker won boosts exporters.
The MSCI Korea Index lost 7.2 percent last month as speculation of reduced U.S. stimulus sparked outflows from emerging-market stocks. The Korea gauge fell to 1 times net assets, the lowest valuation since March 2009, even as analysts predict profits will rise 36 percent in the next 12 months to an all-time high. That compares with 16 percent for the MSCI Emerging Markets Index, data compiled by Bloomberg show.
Полная версия: http://www.bloomberg.com/news/2013-07-09/jpmorgan-buys-cheapest-korean-stocks-since-2009-as-profits-rise.html