Morgan Stanley analysts are long Japan, here is why

seekingalpha06-19

Japanese equities (NYSEARCA:EWJ) are one of Morgan Stanley’s top trades, according to Morgan Stanley Research's Cross-Asset Playbook for June. Strategist Serena Tang wrote that Japanese equities (EWJ)...

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Strategist Serena Tang wrote that Japanese equities (EWJ)...</p>\n\n<a href=\"https://seekingalpha.com/news/4117117-morgan-stanley-analysts-are-long-japan-here-is-why\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4534","symbol_name":"瑞士信贷持仓","start_time":0,"source_url":"https://seekingalpha.com/news/4117117-morgan-stanley-analysts-are-long-japan-here-is-why","article_id":"2444454070","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1215499463/image_1215499463.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2444454070","pubTimestamp":1718735204,"columns":[],"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Japanese equities  are one of Morgan Stanley’s top trades, according to Morgan Stanley Research's Cross-Asset Playbook for June. 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Strategist Serena Tang wrote that Japanese equities (EWJ) are supported by “positive leverage to the multipolar world and AI thematics.” Her team sees a sustainable return on equities rising to 12% by the end of 2025. However, risks to this upside include the rapid strengthening of the Japanese yen (JPY:USD), and the fact that long Japanese equities (EWJ) is consensus with valuations that have enriched. “Japanese (EWJ) and European equities (FEZ) and spread products have higher-than-average carry, especially for the U.S. dollar-based investor who FX hedges,” wrote Tang. Japan’s local yield is 2.1%, for the U.S. dollar investor FX-hedged yield is 7.5%, long-term average is 4.1%. In addition, the report said that reflation in Japan is sustainable. The real-rates-to-real-GDP growth gap is “accommodative,” and “strong wage growth plus increasing pass-through from wages to prices create a domestic source of inflation.”","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2444454070"}