MS Emerging Markets Strategy Update
While Morgan Stanley has been relatively more cautious on global equities, they have made their latest Emerging Market strategy weightings, which was very interesting. MS have reduced weightings on two large markets which have led the index this year, cutting Brazil from O/W to E/W and China from E/W to U/W.
Still bullish, MS have raised recommendation on three large markets: Malaysia and Israel to O/W and Mexico to E/W.
Other markets downgraded were Poland to E/W and on Czech Republic to U/W while raising Philippines to E/W. Still bullish, MS remain O/W on Thailand, Taiwan, Korea and Hungary and U/W India, Indonesia, Argentina, and South Africa.