For years, the international diversification of Brazilian investors was practically limited to two destinations: Brazil and the United States. But the global race for artificial intelligence, the reorganization of production chains, and the more discounted prices in Asian markets are beginning to change this logic. For part of the market, Asia has ceased to be just an alternative bet and has come to occupy a strategic role in their portfolios.

In an interview with Janela de Mercado, Jonathan Lee, head of the international desk at Mirae Asset, stated that one of the advantages of looking at Asia is its lower correlation with the Ibovespa compared to the American market. While the relationship between the S&P 500 and the Brazilian stock market index has a parity of 0.6, the MSCI index of China has a relationship of 0.3 with the Brazilian stock market.

“When the global market becomes risk-averse, Brazil and the United States often fall together. In Asia, the dynamics are different,” says Lee.

Another point, according to Lee, is that the region concentrates a significant portion of the global artificial intelligence infrastructure, something that is not available solely through exposure to the American market.

"If investors understand artificial intelligence as a productive chain, and not just as a software thesis, Asia becomes structural in the portfolio," says Lee.

According to the head of the international desk at Mirae Asset, China appears as one of the most discounted markets in the region. South Korea, on the other hand, combines attractive valuation with one of the most strategic assets in the global AI race: HBM memories, essential for accelerators like those from Nvidia. Companies such as SK Hynix and Samsung dominate this link in the chain.

India, on the other hand, is seen as a structural growth thesis. With economic expansion between 6% and 7% per year, accelerated digitalization, and increased industrial relevance, the country has become an alternative for investors focused on the long term.

Watch the video to better understand how to access the Asian market and which assets to choose.