Singapore stayed immune to stock market shocks in Nov-Dec 2010- Morgan Stanley

The financial advisory firm said the city-state is the lone ASEAN market where investor portfolio weights did not decrease in the last two months of 2010.


Quoting EPFR data, Morgan Stanley said investors have also decreased their OW position on ASEAN 5 within MSCI AxJ by 88 bps to 24.9% for the said period.


In a related development, the agency said MSCI ASEAN C2011 consensus earnings estimate revision dropped to -14 bps this week. Thailand and Philippines led the downward earning revision this week while Indonesia, Malaysia and Malaysia witnessed flat earnings.


Morgan Stanley expects MSCI ASEAN earnings to grow 14.0% in C2011, driven by 22.5% earnings growth in Indonesia.


Meanwhile, Thailand, Singapore and Malaysia are expected to grow by 10.9%, 11.6% and 14.6%, respectively.

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