Surging Asian Currencies Spur Hunt for Winners in Stock Markets
A recent surge in Asian currencies is shifting the outlook for the region's equities, with money managers and strategists favoring stocks tied to local consumption and expecting a return of global funds.
Morgan Stanley strategists said they like markets including India and the Philippines, where stocks tend to be more geared toward domestic demand. They favor sectors such as real estate and financials. Aberdeen Investments prefers defensive plays like consumer and healthcare stocks, while Societe Generale SA sees India as a major beneficiary from its trade negotiations with the US.
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