Mr. Do, of BaringsAssetManagement, said that with Asian stocks already at such low valuations, the prospect of monetary easing and signs of economic recovery in the U.S., the region is positioned for some "spectacular rallies" in 2012.
"Asean markets have done particularly well as foreign investors, especially large institutions, tend to target north Asia, " said Khiem Do, head of Asian Multi-Asset Strategy at BaringsAssetManagement, referring to the Association of Southeast Asian Nations, a regional grouping.
ING, the Dutch bank-and-insurance group which in 1995 snapped up Barings, an investment bank with a big asset-management arm, after the British firm went bust.