Morgan Stanley upgrades rating of TAIEX: Bloomberg
May 25, 2013, 12:25 am TWN
TAIPEI -- Morgan Stanley has raised its rating of the Taiwan stock market to "equal weight" from "underweight," according to a Bloomberg report.
The report cited a Morgan Stanley research note as saying that the upgrade was based on improving earnings and rosier prospects in Taiwan's technology sector this year.
Morgan Stanley also raised its forecast for the local market's weighted index's year-end target from 7,700 points to 8,650 points.