Citi Names These Two Markets As Its Top Picks In Asia

On CNBC, Ken Peng of Citi Private Bank said that the U.S. Federal Reserve has promised to tackle inflation in a very aggressive manner.

The tapering by the Fed is all set to end next month, with rate-hike expected to begin in March.

Peng noted that the Asian markets are in a "little bit better place" as the inflation rate is milder there and the region's central banks are not as nervous as the U.S. central bank.

China is easing its monetary policy and he expects more positive flows after the holiday period. China and Japan are the bank’s top picks in the Asian region as Japan is the cheapest among the developed markets, he added.

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Price Action: Japan’s Nikkei 225 gained 2.09% to close at 26,717.34, while China’s Shanghai Composite lost 0.97% to settle at 3,361.44 on Friday. U.S. stocks closed mostly lower, with the Nasdaq Composite dropping 1.4% on Thursday.

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