Morgan Stanley sees 'value' in emerging-market stocks
From Bloomberg/Businessweek.com: Emerging-market and Asian shares are offering "significant value" after Europe's sovereign-debt crisis prompted a selloff, Morgan Stanley said.
The MSCI Emerging Markets Index's forward price-earnings ratio is 15 percent below the "long-run" average, Jonathan Garner, Morgan Stanley's chief Asian and emerging-market strategist, wrote in a report yesterday. He upgraded Turkish shares to "equal-weight" from "underweight" and downgraded Malaysia and Thailand to "equal-weight" from "overweight."... Full article: Source
Emerging markets are 'safer' bet in Europe crisis, Mobius says
From Bloomberg/Businessweek.com: Emerging-markets bonds and stocks are a "safer" bet for investors concerned that European nations and other developed countries will struggle to contain their debt, Templeton Asset Management Ltd.'s Mark Mobius said.
Developing markets offer lower debt to gross domestic product ratios, higher foreign currency reserves and better- managed banks relative to their developed peers, said Mobius, who oversees about $34 billion in emerging-market assets as executive chairman of Templeton Asset. Any decline in European exports and foreign investment won't be "disastrous" for nations from China to India, he said... Full ......................
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