Credit Suisse’s Asia-Pacific chief investment officer, John Woods, says emerging market stocks may be trading at a discount through September.

“I do think valuations are looking compelling (in emerging markets),” said Woods. “There’s some short-term downside likely over the illiquid summer months.”

As such, traders may be responding to the cheap prices with bullish plays ahead as futures in the MSCI Emerging Markets index were up 1.52 percent today and up 2.30 percent the last five days.

Emerging Markets ETFs get Reprieve from Tumultuous Year 4

For more ETF trends in emerging markets, click here.