摩根士丹利：亚洲新兴市场股票策略_最新目标与路标 - 为何保持谨慎

May 5, 2025 04:22 AM GMT Investor Presentation | Asia Pacific Asia EM Equity Strategy: Latest Targets and Signposts - Why We Stay Cautious Multipolar World trends are in the ascendancy with growth set to slow significantly. Valuations and earnings estimates have further room to adjust. We prefer domestic Japan (unhedged), India, Singapore and UAE. We are EW China and UW Korea and Taiwan. We continue to prefer Financials vs Semis & Tech Hardware. We are OW Defensives versus Cyclicals - especially Gold miners ...