Asia’s equity valuations climb to decade high in May as lockdowns ease

VCCircle | Jun 2, 2020 at 9:08 PM
  • Asian stocks’ valuations hit 10-year highs at end-May, tracking the rally in global shares, as businesses started to reopen across the region after shutting down to curb the spread of the coronavirus and as central banks’ boosted stimulus measures.
  • At the same time, the MSCI’s gauge of stocks across the globe climbed 4.2%, lifting its P/E ratio to 18.39, the highest since at least June 2003.
  • New Zealand, Australia and Malaysia shares were the most expensive in the region.