At its peak: Traders walk by the screens showing the Korea Composite Stock Price Index in Seoul. Morgan Stanley says stocks in South Korea relative to the broader emerging-market gauge may have peaked in January after an outperformance since March. — AP
HONG KONG: After a surge to record highs in January, emerging-market stocks may have already peaked for the year, according to Morgan Stanley.
There are eight reasons why the MSCI Emerging Markets Index won’t climb any further, strategists led by Jonathan Garner, the chief Asia emerging-market strategist based in Hong Kong, wrote in an 18-page report. The measure has overshot then fallen below the bank’s previously-set year-end target of 1,330.
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