Which overseas market is a good hunting ground for value stocks?

[d.o.g.]

There is plenty of value to be found in Singapore, as evidenced by the large number of companies getting bought out. Hong Kong also has a lot of privatizations going on. I would say that there are interesting ideas on both exchanges.

Japan and Korea are statistically cheap, but there are persistent corporate governance issues such as low dividend payouts, complicated shareholding structures designed to entrench founders, and little or no interest in shareholder value. However the situation is improving and sometimes the relative change can be more important than the absolute change.

Taiwan is also not expensive and there is a dividend culture. It is a tech-heavy exchange but of course there are also old-economy businesses like cement, hotels, banks, car makers etc.

Currency is always an issue. JPY is on a long-term downtrend, KRW is very volatile. It is possible to hedge by selling FX futures, or you can just accept that FX will affect returns in both directions.