Yeo noted that margins in Europe are starting to improve and that could translate into stronger earnings growth, while Japan is likely to benefit from a weaker yen versus the U.S. dollar.
“We still like certain spots in the U.S. market. Currently we still favor U.S. banks, which we like in terms of rate hike expectations, bond yields moving higher as well as the promise for financial deregulation in the banking system,” she said.
“Purely from a valuation play we think that U.S. valuations are more challenging at the moment and investors should be looking to diversify out of the U.S. to other various markets.”
— CNBC’s Leslie Shaffer contributed to this story.