LONDON: Morgan Stanley raised Malaysia and Egypt to overweight in its model stocks portfolio and cut Peru and Chile to underweight from equal weight, the bank said in a research note received last Friday.
It said also that it was reducing its overweight on India where interest rates are expected to start rising in early 2010.
Morgan Stanley said Egypt valuations looked cheap while earnings growth potential is strong. A firm ringgit plus the likelihood of an export boost as the global economy recovered was the rationale behind increasing Malaysia's allocations.
Morgan Stanley is now overweight China, Brazil, Taiwan, India, Israel, Poland, Malaysia and Egypt and is underweight South Africa, Turkey, Hungary, Thailand, Philippines, Peru and Chile.
In Chile, Morgan Stanley said earnings growth expectations had fallen.
"Without strengthening, pension funds should continue to allocate towards foreign equities," the note said. "Peru...looks expensive to history and peers and is very overbought." - Reuters
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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