Don't expect Japanese stocks to regain momentum anytime soon because policymakers have not done enough to weaken the yen, says Michelle Gibley, Director of International Research at Charles Schwab. Staying in Asia, Gibley says Chinese stocks are a much better place to invest because they are unloved and the government's reforms are paving the way for growth. She says Indian stocks could be the next hot foreign market because of Prime Minister Modi's pro-market reforms. Finally, Gibley says Brazilian equities should be avoided because the government has under-invested in infrastructure and this will lead to slow growth mixed with inflation.

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