 "Morgan Stanely")
After a long stretch of steep losses, emerging and Asian stocks are close to completing their current bear-market cycle, Morgan Stanley said.
It’s highly likely these markets are bottoming amid “abundant” signs of capitulation, the investment bank’s strategists including Jonathan Garner wrote in note Tuesday, adding that they are shifting recommendations on emerging-market and Asia excluding Japan stocks to overweight from equal weight.
The reassessment from Garner, who correctly predicted deepening routs in emerging and China markets earlier this year, came just as EM stocks have had a longest losing run from its recent peak in February last year amid
