J.P. Morgan has an optimistic outlook on Asian stocks, with South Korea and India positioned to perform particularly well going into 2020. Still, J.P. Morgan said its 2020 year-end target for the index — which tracks large and mid-cap stocks across Asian markets, including China, Korea, and India — is roughly 8% above current levels. “bullish on Asian equities,” explaining, “With aggressive policy easing this year, bottoming of the trade uncertainty-driven sentiment shock, and limited macro imbalances, growth looks set to bottom out in 4Q19 and improve in 2020.” But Sullivan told CNBC that the environment could “get significantly more difficult” in the back half of the year. But stocks in Asia could benefit as global tech demand recovers and companies resume investments. Korean and Indian equities, in particular, could benefit from these trends and “surprise” investors, Sullivan said.