Asia’s equity markets were the first to suffer through a Brexit-fueled rout. Old Mutual Plc and Citi Private Bank are betting they may be the first to recover.
As Britain’s shock decision to leave the European Union saw asset managers desert stocks across the world, RS Investment Management says declines have left equities in Greater China looking more attractive. Shares in Shanghai are insulated from global sentiment because local investors dominate trading, while the turmoil may delay an increase in U.S. interest rates, making higher-yielding Asian securities more appealing. More than $2.5 trillion was wiped off equities around the world on Friday, with $582 billion of those losses coming in Asia, data compiled by Bloomberg show.
