Three other Asian markets—Japan, Vietnam, and China—performed miserably for most of last year. I'm not keen on Chinese equities, but if conditions worsen and China prints money like crazy, the currency will weaken and stocks will rise. I own some issues in Hong Kong, but without great enthusiasm. I own Swire Pacific, Hang Seng Bank, Sun Hung Kai Properties, and Fortune REIT which owns shopping malls. One China play I like is China Mengniu Dairy.