JPMorgan Chase & CoInvestors were urged on Wednesday to buy low as long as stock markets in emerging economies fell, saying that based on past experience, a change of prime minister in Japan should boost the yen and the Nikkei index.
"We have increased our holdings [buy advice] in emerging markets and Japan this month because of their recent poor performance and we expect a change of government to boost the Japanese stock market."
They also expect the economic recovery to remain strong and global GDP to return to pre-crisis levels next year. "We are still bullish on the overall direction of the stock market," JPMorgan Chase & Co said. "
