JPMorgan strategist says now could be the best time to buy Asia stocks

The best time to buy Asia stocks could be now, a JPMorgan strategist said Wednesday.

Mixo Das, Asia equity strategist at the bank, said U.S. markets have been hitting record levels while Europe and Japan are approaching their all-time highs. However, Asian markets have not seen the same trend.

"Ever since the highs in February we're down quite a bit in Asian equities and the way we look at it is, our framework is telling us that now is probably the best time to be taking risks in Asia." Das said investor positioning in Asia is currently "extremely, extremely light" while valuations have come down to more normal levels. If macroeconomic momentum in the region starts to stabilize, Asia stocks could move a lot higher, he added.

The strategist said second-quarter corporate earnings in Asia could grow 60% to 70% from a year ago — broadly in line with estimates.