In its base case, Morgan Stanley sees Singapore's PE re-rate to above-trend levels of 14x, and up to 16x in its bull case.
The Singapore stock market has outperformed regional peers and gained a third year to date. Morgan Stanley believes that 2025 could be another "fruitful" year, says Morgan Stanley.
As part of a raft of impending changes seen to help uplift the local bourse, the US bank believes that the CPF funds will be a key source of capital to boost valuation multiples by up to a fifth.
