Epstein Secrets

ated by the Monetary Authority of Singapore (MAS) and/or JPMorgan Chase Bank. •., Singapore branch (JPMCB Singapore) which is regulated by the MAS. Malaysia: This material is issued and distributed in Malaysia by JPMorgan Securities (Malaysia) Sdn Bhd (18146-X) which is a Participating Organization of Bu

gistered in England & Wales No. 2711006. Registered Office 125 London Wall, London EC2Y 5A1. South Africa: E. Morgan Equities Limited is a member of the Johannesburg Securities Exchange and is regulated by the FSB. Hong Kong: E. Morgan Securities (Asia Pacific Limited (CE number AAJ32I ) is regulated by the Hong Kong Monetary Author

ed by the Monetary Authority of Singapore (MAS) and/or JPMorgan Chase Bank, S . Singapore branch (JPMCB Singapore) which is regulated by the MAS. Malaysia: This material is issued and distributed in Malaysia by JPMorgan Securities (Malaysia) Sdn Bhd (18146-X) which is a Participating Organization of Bu

y. Registered in England & Wales No. 2711006. Registered Office 125 London Wall, London EC2Y South Africa: M. Morgan Equities Limited is a member of the Johannesburg Securities Exchange and is regulated by the FSB. Hong Kong: Morgan Securities (Asia Pacias) Limited (CE number AAJ321) is regulated by the Hong Kong Monetary Authority

d by the Monetary Authority of Singapore I hIAS) and/or JPMorgan Chase Bank. N.A., Singapore branch (JPMCB Singapore) which is regulated by the MAS. Malaysia: This material is issued and distributed in Malaysia by JPMorgan Securities (Malaysia) Sdn Bhd (18146-X) which is a Panicipating Organization of Bur

Registered in England & Wales No. 2711006. Registered Office 125 London Wall. London FC2Y South Africa: J.P. Morgan Equities Limited is a member of the Johannesburg Securities Exchange and is regulated by the FSB. Ilona Kong: J.P. Morgan Securities (Asia Pacific) Limited ICE number AAJ321) is regulated by the Hong Kong Monetary Aut

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tered in England & Wales No. 2711006. Registered Office 25 Bank Street, London, E 1 4 SIP. South Africa: J.P. Morgan Equities Limited is a member of the Johannesburg Securities Exchange and is regulated by the FSB. Hong Kong: J.P. Morgan Securities (Asia Pacific) Limited (CE number AAJ321) is regulated by the Hong Kong Monetary Auth

6.5 5.7 4.5 6.0 4.9 j 4.5 4.5 5.0 5.5 4.5 4.3 3.9 4.6 Korea 3.6 2.2 3.01 1.1 02 15 2.51 4.0 4.5 4.5t 2.4 1.74 2.44 3.0 4 Malaysia 5.1 5.3 5.1 6.3 3.6 6,5 5.0 4.5 4.5 5.0 1.7 1.2 2.3 2.6 Philippines 3.8 6.4 4.8 5.0 52 43 t 4.5 4.9 t 5.3 t 5.3 t 2.9 2.3

es No. 2711006. Registered Office 25 Bank Street. London, El 4 5JP. South Africa: E. Morgan Equities South Africa Proprietary Limited is a member of the Johannesburg Securities Exchange and is regulated by the Financial Services Board. Hong Kong:. Morgan Securities (Asia Pacific) Limited (CE number AAJ32 ) is regulated by the Hong K

Oo) 5.0 58 6.0 68 84 10.1 98 9.0 Indonesia 65 57 3.5 477 6.0. 4.9 T 3.0 3.0 40 40 41 45 3.9 2.2 Korea 3.6 23 3.2 25 1.1 0.6 35 3.0 40 45 40 24 19 3.0 Malaysia 51 5.0 t 3.7 t 58 59 25 3.5 T 3.5 T 3.0 3.5 3.2 d 1.1 2 Philippines 3.8 53 35 12.6 0.9 12 2 45 45 45 47 29 23 23 Singapore 49 154 2.54 95) -07 3.90 3

gistered in England & Wales No. 2711006. Registered Office 25 Bank Street, London, E14 5JP. South Africa: J.P. Morgan Equities Limited is a member of the Johannesburg Securities Exchange and is regulated by the FSB. Hong Kong: J.P. Morgan Securities (Asia Pacific) Limited (CE number AAJ321) is regulated by the Hong Kong Monetary Autho

na. As within DM, we see a lot of divergences within EM and prefer to focus on under-owned markets with good domestic demand story such as Mexico and Malaysia. See "Consensus Asset Allocation", Adrian Mowat and team, Mar 26th. Open overweights in Mexican and Malaysia equities vs MSCI EM. • For long-term inv

es No. 2711006. Registered Office 25 Bank Street, London, E14 5JP. South Africa: J.P. Morgan Equities South Africa Proprietary Limited is a member of the Johannesburg Securities Exchange and is regulated by the Financial Services Board. Hong Kong: J.P. Morgan Securities (Asia Pacific) Limited (CE number AA.J321) is regulated by the Ho