Asian Stocks May Rise 20% on Earnings Upgrades, UOB Asset Says

(Bloomberg) -- Asian stocks, as measured by the MSCI Asia Pacific excluding Japan Index, may rise between 10 percent and 20 percent in the next 12 months as analysts raise earnings estimates, according to UOB Asset Management. The Singapore-based asset manager, a unit of Southeast Asia’s second-biggest lender, favors companies that rely on consumer demand and are likely to benefit from a regional economic recovery, Chief Investment Officer Thio Boon Kiat said in an interview yesterday. He declined to name specific stocks.

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