Looking at the indications of global growth, emerging markets (EMs) stand out and the commodities are playing a dominant role in their performance, said Bruno Verstraete, partner, Lakefield Partners.

"I think EMs have a dynamic on their own, specifically in Asia where the interest rate is clearly set them apart from whatever consumer demands outside Asia," said Verstraete.

On US-China trade talks, Verstraete said the developments to the markets cannot be underestimated and this is seen as a deadline to calming of this global trade war.

"I think the US has every benefit to do it but in the long run, it will be a very bad thing for global trade anyway,” he said.

US-China trade relations is expected to get better at the 2018 G-20 Summit, which will take place in Argentina this week. Chinese Foreign Minister has been quoted as saying that US President Donald Trump and his Chinese counterpart Xi Jinping have agreed to reach mutually beneficial agreements.

However, Trump on Monday said it's "highly unlikely" that he would delay an increase in tariffs from 10 percent to 25 percent on January 1.

“I think President Trump is threatening and trying to say that be careful. I hope in the end, both of them realise that the lesser the damage done, the better it will be for them politically,” Verstraete added.