Asia’s Stock Market Boom Isn’t Over. Why the Blockbuster Gains Can Continue.

Blistering bull markets in South Korea, Taiwan, and Japan have helped Asian stocks trounce the U.S. so far this year. Not only are the markets still relatively cheap, they are also home to companies seeing continued growth from the artificial-intelligence boom, as well as increased spending on defense and industrialization. The broad MSCI AC Asia index has jumped 25% so far this year, while the S&P Asia 50 index—tilted more toward the South Korea and Taiwan’s record-setting markets—has surged 50%.