Sizzling Asia Value Rally Has Fund Managers Hunting for Gems

There are superlatives aplenty for the fierce comeback of Asia’s value stocks this quarter: They’re set to trounce growth peers by the most in two decades. Finance shares bested all other sectors. Last year’s abandoned market, Singapore, is now an investor darling.

Even as some pockets no longer look cheap, value-focused investors say money can still be made from these economically sensitive stocks. T Rowe Price has turned to Chinese airports and travel portals. Fidelity International prefers China’s old economy sector leaders. Finance stocks were frequently mentioned, too.