Morgan Stanley Says Emerging Stocks May Have Already Peaked
- MSCI EM gauge overshot bank’s year-end target in January
- Falling copper prices, steady U.S. dollar among reasons cited
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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, analysts 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.