Feb. 13 (Bloomberg) -- The rally in Asian stocks may undergo a “consolidative pause” before resuming, supported by valuations and a queue of buyers, Nomura Holdings Inc. said.

A “consolidative pause seems rational,” and “should help legitimize a new base for the next leg of upside,” Nomura analysts led by Michael Kurtz wrote in a report dated today. Much of Asia’s “easy gains” are past and the rally may grow “sloppier” from here, with any pullback to be “shallow and brief,” they wrote.

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