I posted about 3 months ago the first investment idea.
This first idea has performed quite well, from HKD 20.90 to currently HKD 24.60, a gain of about 18%.
I expect a decent dividend to be announced at the end of this month (accompanied by a drop in share price of the same amount).
CLSA published their "Asia Maxima" 4Q16 publication:
Interesting are both the low PB and high dividend yields for Hong Kong, which were indeed reasons for me to buy into the Tracker Fund. I am not too worried about the low earnings growth and ROE, I think they are quite typical for a share market when the economy is not doing well. When the economy swings back to live, these factors will undoubtedly improve.
Singapore's numbers are quite similar to those from Hong Kong.
For Malaysia, as usual, quite high PE numbers. But in the stock universe of CLSA (consisting probably of both higher quality and more liquid shares than average) they do predict a positive earnings growth. That is quite different from the overall picture of the 30 largest cap shares on Bursa where an earnings decline is likely. For me the value in Malaysia has always been in selected small and medium cap shares, not in the blue chips.
In general, emerging markets look cheap relatively versus for instance the US market, which is close to its all-time high and which hasn't seen a bear market since 2008/9.