An investment analyst says he is looking for opportunities outside the U.S. stock market. “There are still areas that appear to be good value for money, but by and large they are outside of the U.S. These are areas like Europe, where we have invested quite extensively,” said Steven Glass, chief executive and investment analyst at Pella Funds Management based in Sydney. he said April 8 on CNBC’s “Squawk Box Asia.” “Also, we are finding pockets of value in Asia, China looks very cheap. And India is still [has] has vast growth potential,” he added. HDFC Bank In India, investment analyst is betting on HDFC Indian Bank. Shares of the bank have risen nearly 6% in the past week, but are down about 7 .2% in over the past 12 months. HDFC Bank recently reported year-on-year growth in gross advances of 55.4% for the quarter ended March 31. Of the 42 analysts covering HDFC Bank on FactSet, 37 have a rating of Buy or Overweight the stock at an average price target of 1,898 Indian rupees ($22.81), with upside potential of nearly 23%. The bank’s shares trade in the Nifty India Financials ETF (15.6% weighting ) and iShares India 50 ETF (11.2%).AIA In China, Glass has invested in the AIA group and is “looking for other ideas”. At the end of March the insurance giant’s stock fell to a seven-year low and continues Over the past 12 months its shares have fallen by around 37.5 The company recently reported a 33% increase in new business value, reaching $4 billion for the 2023 financial year, thanks to strong sales growth in key markets such as China, Singapore and Vietnam. The AIA’s annualized new premiums for the 2023 financial year increased 45% to a record $7.7 billion. All 30 analysts covering AIA Group on FactSet have a buy or overweight rating on the stock with an average price target of 93.95 Hong Kong dollars ($12), giving it upside potential of nearly 80%. The life insurance company’s shares trade in the iShares MSCI Hong Kong ETF (weight 20.0%) and the Franklin FTSE Hong Kong ETF (19.2%).