Bank of America releases latest survey of Asian fund managers, reveals the region’s most and least favorable markets in 2024, naming one sector ‘leading’ . A net 17% of fund managers surveyed expected the Asia-Pacific region ex-Japan economy to do even better over the next 12 months, with the majority saying they were “still looking for an uptrend.” I answered. There were 254 survey participants and $691 billion in assets under management. But analysts at the investment bank, led by Ritesh Samadhya, said four out of five expect regional stocks to rise over the next 12 months “based on supportive policies backed by above-par returns and fair valuations.” He said he expected. Memo for December 19th. It added that around 34% of fund managers expect profits to recover in the region over the next 12 months. Too much focus on technology Most fund managers surveyed were bullish on technology in 2024. [their] BofA analysts say the sector is “dominating” asset allocation, favoring sectors such as the semiconductor cycle, high-tech hardware and software; was considered a pure underweight. Fund managers say there is too much emphasis on the so-called “high-tech industries” of Taiwan and South Korea, which is home to semiconductor giant TSMC and South Korea. “From South Korea to Samsung. India is also among the top four overweight markets for fund managers. Forecasts for the South Asian country are solid. In October, the International Monetary Fund pegged India’s growth forecast for this year and this year at 6.3%. Fund managers were particularly bearish on China, which ranks at the bottom of a list of the region’s 12 markets.Investor interest in Chinese risk assets is surprisingly low. , the majority would prefer to wait and see.”They believe Chinese households will continue to be in conservation mode, either monitoring rather than being exposed (34%) or looking for opportunities elsewhere. (28%),” BofA analysts said. China’s economy has been in turmoil this year, still reeling from the coronavirus pandemic and plagued by a real estate debt crisis. Domestic demand remains weak, with consumer prices falling at the fastest pace in three years in November. Other markets surveyed were bearish, including Singapore, Malaysia, Indonesia and Australia. Japan ‘tops preference list’ Optimism about the Asian giant is waning among fund managers, with 34% of those surveyed expecting a strong economy over the next 12 months, with 11% of those surveyed expecting a strong economy over the next 12 months. That’s down from 65% in March. Nevertheless, BofA analysts said, “A net 45% of investors’ list of country preferences is at the top, with a bias toward banks and securities.” Japan has attracted the attention of several investors this year. Warren Buffett announced in May that he had raised his stake in five Japanese trading companies to 7.4% after his visit to Japan in April. And corporate governance reforms at the Tokyo Stock Exchange have increased optimism about the country’s markets. —CNBC’s Michael Bloom contributed to this report.