Goldman Sachs says South Korean stocks are the bank's top "rebound candidate" for 2023 due to low valuations, made cheaper by a nosediving Korean won, and as companies benefit from an expected recovery in Chinese demand. "We think (Korean stocks) sold off too much in September and August." Morgan Stanley downgraded its view on Indian exposure in October, when it upgraded its recommendation for South Korea. Like South Korea, Taiwan (.TWII) is another heavily-sold and chip-maker dominated market - though tensions with China make some investors a bit less enthusiastic. Meanwhile, Taiwan and South Korea are both geopolitical flashpoints - but analysts argue at least some of that is already in the price.

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