Among European markets, he singles out opportunities in German stocks, which have been underperforming amid concerns that a slowdown in China will hit the country’s export-oriented economy.
“The valuation of Germany against the rest of the Eurozone is at a 30-year low, the DAX looks quite oversold, and I think part of this reflects market concerns around China,” he said. “In the first quarter of next year, we might get a more positive environment around China, which will also support Germany.”
—With assistance from Michael Msika.
This article was provided by Bloomberg News.