In the U.S. markets, Koesterich likes the financial sector as Wall Street banks see an improved outlook.

“Closer to home, one of the few bright spots last week was the U.S. financial sector,” Koesterich added. “Although earnings overall have been lackluster, financial companies, notably Morgan Stanley, JPMorgan and Bank of America, are producing better-than-expected results. With financial stocks getting hit hard over the past several weeks, we see this as another place for investors looking to bottom fish to consider.”

For broad financial sector exposure, investors can look to the iShares U.S. Financials ETF (NYSEArca: IYF), Financial Select Sector SPDR (NYSEArca: XLF) and Vanguard Financials ETF (NYSEArca: VFH).

These diversified financial sector ETFs include positions in the biggest banks on the block. For instance, IYF holds 1.1% Morgan Stanley (NYSE: MS), 5.9% JPMorgan Chase & Co. (NYSE: JPM) and 3.8% Bank of America (NYSE: BAC). The banking sub-sector makes up about a third of the financial sector ETFs’ holdings.

Max Chen contributed to this article.