Investors more upbeat on China, but underweight Korea

Cash is no longer king for asset allocators, but investors are mixed on which Asian countries they favour, according to Bank of America Merrill Lynch's monthly fund manager poll.

After three months of growing pessimism about China, confidence has rebounded, but investors have turned underweight South Korea and remain very downbeat on Malaysia. Meanwhile, equities have benefited from a global cut in cash balances, according to Bank of America Merrill Lynch's October fund manager survey, published yesterday.

Globally, half of respondents think China's economy will strengthen in the next 12 months, up from 35% in September. This was reflected by 10% of global ...