Three of the better performing emerging markets are Singapore, Hong Kong and Malaysia. A recent Standard and Poor’s report notes it expects most rated banks in these three countries to further expand over the next several years.
Citigroup CEO Vikram Pandit grabbed a few headlines last week after making comments reflecting an optimistic viewpoint of emerging markets.
Although the Singaporean economy (EWS, quote) grew 10% year on year for the first quarter of 2012, this southeast Asian economy is starting to feel the pain of global economic woes.
Singapore has been beating emerging and developed markets alike. But as leadership in the high-tech Asian enclave shifts, the best way to play it will come down to which banks will outperform the rest.