So for newbie like me, stay out for now from MY funds??

What do you mean by "valuation".?

How Does One Predict Equity Market Returns?...PUBLISHED on July 25, 2011
In this article, we highlight the 3 key components of equity market returns, allowing investors to estimate the potential returns one may expect from an investment in the stock market.
http://www.fundsupermart.com.my/main/resea...?articleNo=1385

How Do You Determine Which Regional Markets/Single Countries Are Attractive?.....September 10, 2014
We often say that a stock market is attractive, cheap or is trading at a discount compared to our fair estimate PE ratio, implying an opportunity for investors to venture into the market at an attractive valuation. How then do we evaluate the attractiveness of these stock markets? In this article, we will be discussing more on our approach in assessing attractive markets for investors.
http://www.fundsupermart.com.my/main/resea...?articleNo=4992

Try the FSM website...on the main page (Home)
under the "Research" section.
usually published once a week.
titled "Market Valuation as at...."

Some of us started moving out funds from MY last week before the correction which I think was a good short term decision. I too reduced my MY holdings by about 75%.

Ok-lah bro. Very good return already. Doesn't matter that it underperformed the benchmark. I am topping up on Japan. 

Some of us started moving out funds from MY last week before the correction which I think was a good short term decision. I too reduced my MY holdings by about 75%.

Yesterday's drop in KGF wiped out the last 3 weeks of gains. 

what go up fast, will come down even faster...

i didn't expect the results.

Am very weary of the US Market (recovery is gaining momentum) now and interest rate hike (slated for July, now supposedly postponed till Sept).
I noted  that my Malaysian fund (SOF via EPF and SIF via Cash) after a short rally now stagnant again. This seem to suggest that market is taking profit after some mini rallies.

....
So the question now is, since prices are low for certain funds like KGF, Eastsprings SC and Manulife India, is this a good time to go in or is there more downside potential?
....

Haha    Lock down your profits . haha.

anyway, I asked earlier, any place to get the PE ratio information for the KLCI Index?
In fundsupermart perhaps?

I think Japan is still OK. It is a developed market. Ranking No. 2 or No. 3 in terms of biggest stock market in the world. Japanese share market may drop but not drastically as China or India.

The corporate governance of Japan should be better. Their economic data may not be "massaged" like China or Malaysia.

This is just my layman view-lah. 

"MAKE REFERENCE TO VALUATION INDICATORS

Thus, investors should never judge if a fund is cheap or expensive based on its fund price. Instead, investors should be aware of the valuations of the underlying markets which the fund invests in. Investors might like to read our monthly Overall Market Summary and Earnings Growth Forecast for equity markets under our coverage to aid them in finding value.

When market fundamentals (such as attractive estimated PE ratios and strong earnings growth) and economic outlook are both supportive, it still makes good sense to invest in a fund even though its unit price is high".

http://www.fundsupermart.com.my/main/resea...?articleNo=2288

The problem is most markets are having PE valuations which are higher than the Fair PE values. So using that a gauge to determine buying is not gonna be sufficient. History has proven that valuations can sometimes go much higher before a correction begins.

The question now is how much higher can valuations go and for how long? For markets like China, its a bit of a 50-50. Economic growth figures are not good but stock market is rallying and now China plans to begin QE. So I think this region is worth taking a risk on as long as you balance your portfolio with global funds. (yes, same thought here too)

In my opinion, both the Malaysia and US markets pose a higher risk of a correction in the near term compared to Europe or Japan or Greater China. (yes, same thought here too...cos they have QE)

Er, means PE ratio for the Malaysian stock market is still not attractive. Sorry ah, I have login into FSM now to transfer my funds. Be back later.

I just did a quick comparison for the money I withdrew from ASB to invest into UT. If I had kept the money in ASB, I would have 'made' a 'profit' 5.7X more than my current UT profit.

So was it a good decision? 

I think we all always make comparison like that. Heck, if I put all my stock investing money in UT, I would have gain so so so much more.

I just did a quick comparison for the money I withdrew from ASB to invest into UT. If I had kept the money in ASB, I would have 'made' a 'profit' 5.7X more than my current UT profit.

So was it a good decision? 

  wow 5.7 times more???
the answer for now at this time is very clear then.
 
wondering how long and at what IRR rate must this UT perform to be on par if not better? 

I think we all always make comparison like that. Heck, if I put all my stock investing money in UT, I would have gain so so so much more.

Europe Unseats U.S. as Best Place to Invest in Bloomberg Poll

http://www.bloomberg.com/news/articles/201...-bloomberg-poll

This is quite an unsettling article especially who those of us who are heavy in China at the moment.