“The BlackRock logo is seen outside their offices in New York City, the U. s. a, October 17, 2016. REUTERS/Brendan McDermid
SINGAPORE (Reuters) – The world’s largest asset manager, BlackRock, Inc. (“BLK.N), called from the oil share of the domestic tourism and income in China and India, the investment opportunities in Asia outlook, on Wednesday.
The manager of $6.5 trillion in assets, expects that it might be 2022 at the earliest before the global growth back to trend, but said in a statement outlining its regional outlook: “Asia stands as a benefit when the upturn comes.
“We have, like in China on the credit spectrum,” said Neeraj Seth, the Fund manager, head of Asian credit, as it is supported by strong government stimulus.
He said the state enterprises were favored in the investment-grade category and the real estate industry, preferably in the high-yield category, while the Indian, presented to a quasi-state bonds and the bonds, the financing of renewable energy, and business opportunities.
The Oil majors, the domestic travel and tourism-tips-and-carry-trade plays in Indonesia and India, as well as the online business you are the chief among the opportunities in stocks, said Stephen Andrews, the Fund is co-head of global emerging market shares.
“We focus on the post-corona virus,” he said.
“We see rising oil prices from the current $30-plus range on our (1.5-2 years of investment horizon,” he added, and said the price-to-book values in India and Indonesia are in the 1-2 decade lows.
On Wednesday, Asian stocks jumped to a three-month high, and the riskier currencies rose against the dollar, as markets looked beyond the short-term risks for a bright recovery from the COVID-19 pandemic.
BlackRock expected to weaken the U.S. dollar, in the next two quarters.
Reporting by Tom Westbrook; Editing by Jacqueline Wong