Looking ahead, those searching for pockets of opportunities in the region can look to Morgan Stanley's selection of "alpha" stocks.
Among the "notable top-ranked stock ideas" on its list is South Korean commercial bank Hana Financial Group.
"Our Korea Financial analyst, Joon Seok ... believes large-cap banks are key beneficiaries of the corporate reform theme," Morgan Stanley's analysts said.
Here are 10 stocks from Morgan Stanley's full list of top overweight-rated stocks for April.
Notable bottom-ranked stocks Morgan Stanley named its "notable bottom-ranked stock ideas."
Persons:
India's, Morgan Stanley's, Joon Seok, Morgan, Joon, Morgan Stanley, Santos, — CNBC's Michael Bloom
Organizations:
Japan's Nikkei, CSI, Alpha, Japan, Hana Financial, Korea Financial, Financial Services, Novatek Microelectronics, Analysts, Morgan, Berger Paints
Locations:
India, Japan, China, Asia, Pacific, Korean