Morgan Stanley Picks China, Singapore Stocks as Virus Shelters
- Broker bets on further policy stimulus and cheaper valuation
- Morgan Stanley downgrades South Korea, Greece, Russia stocks
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The coronavirus-wrecked equity markets of China, Singapore and Australia can now provide shelter from the outbreak, according to Morgan Stanley.
The investment bank upgraded stocks of the three nations in its model allocation for Asia Pacific and emerging markets on Sunday, citing expectations of further policy stimulus amid the widening public health emergency and cheaper relative valuations.