Morgan Stanley Asia Pacific analysts Shawn Kim and Daisy Ryu analyze opportunities in Korea in their work “Korea, the New Safe Haven – Stocks to Buy and Avoid” of October 20th.
MSCI Korea is up 13 percent since August 23, 2013
Foreign buying looking for a safe haven piled into South Korean equities after August 23, pushing it up 13% (20% in USD terms). Morgan Stanley’s valuation models say Korean equities are now within 2% of fair market value, and that “a lot of the good news is already in the price, and there are risks out...