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According to the latest report of the Asian Development Bank (ADB) on July 21, developing Asia and the Pacific will continue to experience strong economic growth in 2018 and 2019. Growth in Asia is full regime and should remain so despite worsening woes of the trade war. On the other hand, the ADB also released its strategic plan for Asia until 2030, which highlights the bank's priorities to meet the changing needs of Asian countries. In circumstances where growth would remain intact in the coming years and the AfDB could take a more proactive stance towards establishing sustainability in the Asian economy, betting on the region's stock seems cautious.
AfDB Confides in Asian Growth
In its latest report, the ADB predicts that the Asian economy is expected to grow by 6 percent in 2018 and 5.9 percent in 2019. This is largely consistent with his previous forecast of April. Moreover, if we exclude the newly industrialized economies of Asia, growth should be 6.5% for 2018 and 6.4% for 2019.
China, second largest global economy, is expected to grow by 6.6% and 6.4% in 2018 and 2019, respectively. In addition, East Asia is expected to grow by 6% in 2018 and 5.8% in 2019, thanks to the growing economies of Hong Kong, China and Taipei. On the other hand, growth in South Asia would be the fastest in the region
The growth of the region would be led by India, which is on track to achieve its growth projection of 7 , 3% for the 2018 fiscal year. This would further accelerate to 7.6% in 2019 driven by tax reforms as well as the country's banking sector. Finally, growth in South-East Asia would remain unchanged at 5.2% in 2018 and 2019.
ADB Strategy 2030
The latest strategy report published by the Manila- bank based on the improvement of health in the region. Historically, the bank has focused more on infrastructure spending in Asia, but precarious health conditions in poor countries such as Mongolia and Uzbekistan have forced the bank to change the situation. ;approach.
AfDB adopts a more proactive attitude towards extreme poverty. region by aligning its goals with global development agreements and frameworks, such as the Sustainable Development Goals, the Paris Agreement on Climate Change and the Sendai Framework for Disaster Risk Reduction
. mitigation projects in accordance with the Paris Agreement. Over the next 12 years, the bank aims to increase climate finance to about $ 7 billion a year.
4 Best Stocks
The latest ADB report indicates that Asia would remain largely untouched. impacts of the trade war. This is because the development of sound policies in Asian countries has allowed the economy to withstand global shocks. In addition, in its next 12-year action plan, the AfDB takes a stronger stance to tackle extreme poverty and climate change in the region. This would lead to sustainable growth in Asia.
In this context, we selected four Asian stocks that should benefit from these factors. These four actions carry a rank Zacks # 1 (strong buy) or 2 (buy). You can see the complete list of Zacks rank # 1 stocks today .
JinkoSolar Holding Co., Ltd. ( JKS – Free Report) is a designer and developer of photovoltaic products in China as well as around the world.
The company is based in Shangrao, China and has a Zacks # 1 ranking. JinkoSolar expects earnings growth of more than 100% for the current year. The Zacks Consensus for the current year has improved 74.5% in the last 60 days.
Hollysys Automation Technologies Ltd. ( HOLI – Free Report) is a supplier of technologies and products for automation and control
Zacks Rank # 2 Company based in Beijing, China, expects profit growth of 22.13% for the current year. The consensus estimate of Zacks for the current year has improved by almost 1% in the last 60 days.
Woori Bank Co., Ltd. ( WF – Free Report) is a provider of commercial banking products and services in South Korea.
The Zacks Rank # 1 company based in Seoul, South Korea, expects profit growth of 31.11% for the current year. The Zacks consensus estimate for the current year has improved 7.3% over the past 60 days.
China Petroleum and Chemical Corp. ( SNP – Free Report) is a corporation focused on its core petroleum and petrochemical business with integrated upstream, intermediate and downstream operations and a comprehensive marketing network .
The company is headquartered in Beijing and carries a Zacks Rank # 1. China Petroleum expects earnings growth of 77.92% for the current year. The Zacks Consensus for the current year has improved by 10.5% over the last 60 days.
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