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“The Asian rally is under way,” says Yiannis Moustrous, editor of The Silk Road Investor. Here, he looks at a favored pair of NYSE-listed banks; one in India, the other in South Korea.

“The latest rally started from depressed levels, particularly in comparison to other regions of the world.

“Further, the current oil price weakness–if sustained–will act as a positive catalyst for Asian economies that are net oil importers.

“Extreme selling conditions usually set the stage for a rally, which can be rather substantial when a lot of cash is on the sidelines, a lot of short positions need to be covered and marginally positive news emerges. These conditions are currently in place in Asia.

“The previous selloff is giving us the opportunity to add one more position to our India holdings:ICICI Bank. I’ve recommended this company before, and I view it as one of the stronger private banks in India.

“It also offers decent insurance exposure, a sector that has