Japanese growth is starting to pick up, but investors should wait until the trade gets less crowded before jumping in, says Arvin Soh, portfolio manager for GAM USA. Soh also expects a lot of buying opportunities to emerge once we see a "wash out" in the emerging markets as a result of the Fed's rate hike plans. As for China, Soh likes the long term story, but sees a lot of near-term uncertainty and advises staying away until there is a significant selloff in Chinese shares.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

More from Video

60 Seconds: What the Heck is GDPR?

60 Seconds: What the Heck is GDPR?

Jim Cramer: Why I am So Bullish on Apple's Services Revenue

Jim Cramer: Why I am So Bullish on Apple's Services Revenue

Jim Cramer: Does Saudi Arabia Think Oil Prices Are Too High?

Jim Cramer: Does Saudi Arabia Think Oil Prices Are Too High?

Video: Jim Cramer on North Korea, Oil Prices, Apple and Carnival Corporation

Video: Jim Cramer on North Korea, Oil Prices, Apple and Carnival Corporation

Cramer: North Korea Market Selloff Means Buying Opportunities in Domestic Stocks

Cramer: North Korea Market Selloff Means Buying Opportunities in Domestic Stocks