New Delhi, June 19 -- Blistering bull markets in South Korea, Taiwan, and Japan have helped Asian stocks trounce the U.S. so far this year. But strategists and fund managers aren't rushing to collect their wins and move on.

That's because they see further gains beyond these eye-popping rallies. 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%. Both far outpace the S&P 500's 19% gain to date in 2026.

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