Key stance since 4Q20. CS APAC Strategist, Dan Fineman, has maintained his Overweight stance of Value over Growth since 4Q20. Although the RussiaUkraine conflict has created some headwinds, he sticks to his preference for Value in APAC.

Asia can weather the storm. Dan believes that Asia can prove more resilient than other regions despite the risk to oil. Although Asia is a net importer of oil, crude pricing has historically had little impact on currencies, economies and equities. Inflation is of negligible concern in almost all markets and of moderate concern in one or two markets. His main concern regards second-round impacts. If the supply shock and hit to sentiment notably weaken DM demand, Asia’s export-driven economy would suffer.