A piece from Blackrock (BlackRock is the world's largest asset manager, with circa US$9.5 trillion in assets under management) with a summary of their weights into various equities by region.
![global equities 19 July 2022](https://images.forexlive.com/images/global%20equities%2019%20July%202022_id_71d9ac4e-77dc-4891-a444-e9b07294fe49_original.jpg)
The firm is not particularly favouring China nor Japan, but as you can see it rates them higher than the US, Europe and UK.
In the US issue is an aggressively tightening Fed. In Europe the firm sees a risk of stagflation due to the Ukraine-war energy shock.
On Japan:
We like still-easy monetary policy and increasing dividend payouts. Slowing global growth is a risk.
China
We are neutral Chinese equities. Activity is restarting, but we see 2022 growth below official targets. Geopolitical concerns around China’s ties to Russia warrant higher risk premia, we think.