Morgan Stanley turns 'outright bullish' on stocks in Asia, emerging markets

"We believe it is time to turn overweight on Growth stocks in Asia/EM again," Morgan Stanley strategists said in a note.

Morgan Stanley forecasts Hong Kong's Hang Seng Index to gain another 28% from current levels by the end of this year and China's CSI 300 to gain another 14% Morgan Stanley strategists say it's "time to turn bullish" on Asia and emerging markets' growth stocks. Citing easing financial conditions ahead, the U.S. investment bank's analysts said: "With market volatility and bond yields starting to moderate, we are turning outright bullish on Growth over Value again in Asia/EM after taking a tactical neutral stance in Feb-23," according to a Sunday note.

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