Focus more on US in fourth quarter: CLSA

Chris Wood, CLSA: Investors will need to focus more on US in the fourth quarter and not just the Eurozone as has been the case so far this year. A percentage point will be added to Malaysia and India respectively in the Asia Pacific ex-Japan relative-return portfolio with the money shaved from Indonesia and China.

Adrian Mowat, JPMorgan: Equity market performance is good this year but it is distorted by growth stocks outperforming deep cyclicals. For emerging markets, China's structural economic slowdown could lead to a bear market in materials, globally. Within China, excess capacity and weak demand may result in a hard landing for profits. The best hedge against this is technology which should outperform based on product cycles.