"Seemingly stronger political will and low market expectations mean that any new initiatives proposed in the coming nine months could be met with a broad-based uplift in valuation multiples, especially for larger cap stocks," according to a team of Morgan Stanley analysts in their Nov 17 report, where they upgrade their call from "underweight" to "overweight".
Shares of Singapore Exchange (SGX:S68
) Group surged this morning after an upgrade by Morgan Stanley, citing ongoing efforts to boost the vibrancy of the local bourse.
SGX shares surged to as high as $12.20 before easing somewhat to $12.05 as at 11.32 am, up 5.52% for the day.
