Morgan Stanley picks China, Singapore stocks as virus shelters

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Investment bank cites expectations of further policy stimulus amid outbreak. FMTNews Singapore

SINGAPORE: The coronavirus-wrecked equity markets of China, Singapore and Australia can now provide shelter from the outbreak, according to Morgan Stanley.

The move came after the Federal Reserve released an unscheduled statement on Friday, opening the door for a rate cut this month. China pledged to roll out more effective stimulus – including implementing measures to reduce corporate taxes and cut unnecessary government expenses.

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