Robeco APAC Head Crabb: U.S. Stocks Exhausted Upside, Asian Markets Undervalued on July 14

On July 14, Joshua Crabb, head of Asia-Pacific equities at Robeco, warned that U.S. stocks have exhausted upside revaluation potential while Asian markets including South Korea and Taiwan remain significantly undervalued with reassessment opportunities ahead. Crabb noted that despite Asian equities outperforming in 2025-2026, their valuations have actually deteriorated relative to U.S. peers, driven by strong corporate earnings outlooks from Korean and Taiwanese firms.

Crabb cautioned against concentrated market exposure to AI and mega-cap technology stocks, noting sector concentration exceeds 2000s IT bubble levels. As AI-related stocks face corrections, opportunities emerge in consumer, healthcare, and financial sectors across Asia, where valuations remain at reasonable undervalued levels, he added.