According to Hartmut Issel, UBS, this ECB-led rally has further leg to go and will benefit both the developed as well as emerging markets at least in the short-term.
Tai Hui, MD, Chief Market Strategist - Asia, JP Morgan AMC is positive on European and Japanese equities in the developed market and on India and selective sectors in China among emerging markets.
Japanese equities opened to a three-week high, drawing support from the new records on the Dow Jones Industrial Average and S&P 500 overnight, while other bourses in the region stepped slightly into negative territory.
Japanese equities have been volatile in recent weeks as investors fretted over slowing growth in China and the prospect of the US Federal Reserve rolling back its stimulus in the coming months
The stampede out of Japanese equities resumed on Thursday, sending the benchmark Nikkei 225 tumbling as much as 6.4 percent.
In an interview to CNBC-TV18, Nicholas Ferres, Eastspring Investments says they are still relatively cautious on markets in the near-term after the recent run-up and maintain a relatively neutral equity position.