Eoin Treacy's view Thailand stands out as one of the higher yielding Asian countries (4.03%) with a comparatively low P.E of 13.65. One doesn't have to look far for reasons why the country's markets have underperformed over the last few months but political instability seems to be subsiding, at least for now, and the stock market has been a firmed of late. A sustained move below the 200-day moving average, currently near 720, would be required to question medium-term upside potential.

Turkey has been one of the better performing emerging markets. It has a dividend yield of 2.29% and a P/E of 11.66. It rallied impressively from the 2008 lows to post a new all time high in April. However, the advance has lost momentum since October, with larger reactions, dipping into one another, prevailing over the last six months. The main consistency characteristic has been the unbroken progression of major reaction lows. These will need to hold in the current pull back from the psychological 60,000 level to sustain the medium-term bullish outlook.

(Please note: All data quoted above originates in Bloomberg. We realise that some of the data displayed is inaccurate for some indices, particularly where ADRs are included. However, I have endeavoured to remove those indices which were most problematic. We continue to publish these tables because the data is generally accurate and going forward we will continue to weed-out the less reliable data sets as subscribers highlight them for us. I have also deleted the FTSE AIM Index from the list because it does not seem to have very reliable figures. The P/Es quoted by Bloomberg are exclusively based on operating earnings.)