Singapore market offers deep value, says Morgan Stanley
Singapore
SINGAPORE's equity market offers deep value, Morgan Stanley says in an Asean equity strategy report which upgrades the Republic to "most preferred market".
This comes at a time when the market is trading close to its cyclical troughs.
"We study Singapore's valuation trends during the past two decades and conclude that Singapore's equity market seems to have been ignored over the past five years and has capitulated recently," said the Sept 14 report.
A lot of the growth negatives seem to be in the price, the research report said, adding that potential restructuring, particularly in the government-linked companies (GLCs), facilitated by a strong government …
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