Asian stock market analysts aren’t comfortable with the November 3rd elections and are raising cash to buy safe assets such as gold. When CNBC asked thirty analysts for their views, ten said they thought it was a good time to move out from expensive US tech stocks and instead buy up cheaper and more stressed stocks such as tourism and travel, banks and industrial sectors.
Their views on which countries to invest in depends on the outcome of the election. The strategists said that a Biden victory would be good for China, Japan and South Korea. A Trump win however would be better for India, the Philippines, Vietnam and also Taiwan.
When discussing tech, the analysts agreed that Asian tech is cheaper than the US and is less likely to be regulated, while at the same time a Biden win could put US technology at greater risk of regulation.