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BlackRock Sees These Opportunities As Best In Asia To Outlast Coronavirus

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BlackRock Sees These Opportunities As Best In Asia To Outlast Coronavirus

BlackRock Inc. (NYSE: BLK) in its Asia outlook report on Wednesday said the continent "stands out" as a beneficiary when global growth returns to a normal pace at the earliest in 2022, Reuters reported.

What Happened

The world's largest asset manager said it sees oil stocks, and domestic tourism in Asia as key investment areas through the novel coronavirus (COVID-19) pandemic, according to Reuters.

"We see oil prices rising from the current $30 plus range over our (1.5-2 year) investment horizon," BlackRock's co-head of global emerging market equities Stephen Andrews said, as reported by Reuters.

BlackRock noted that China looks good "across the credit spectrum," due to the massive debt stimulus planted by the country's government.

In the report accessed by Reuters, the New York firm said it favored state-owned businesses in China in the investment grade category and the real estate sector in the high-yield category.

India's quasi-sovereign debt and renewable energy bonds are also investment opportunities for the next couple of years, it noted, as per Reuters. Domestic travel and tourism stocks, along with online businesses in India and Indonesia, are the most suitable opportunities in equities for the "post-coronavirus world," according to BlackRock.

BlackRock Price Action

BlackRock shares closed 0.6% higher at $541.34 on Tuesday.

 

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