Morgan Stanley has revealed a bullish call on Japanese stocks for 2024. China and emerging markets However, Morgan Stanley remains cautious on other Asian markets going into the first half of 2024. The bank's strategists lowered their target for the MSCI Emerging Markets Index to 1,000, implying a modest 4% upside from current levels. They cited slowing global growth, higher interest rates, and currency weakness versus the U.S. dollar as headwinds for emerging markets. Morgan Stanley expects strong nominal GDP growth above 11% annually in 2024 and 2025 thanks to "young demographic and geopolitical alignment," which will drive earnings higher.

---

Persons: Morgan Stanley, Jonathan F, Garner, Tom Stevenson, Morgan, CNBC's Michael Bloom, Penny Chen Organizations: U.S ., Amundi, Fidelity International, CNBC Pro, U.S Locations: Amundi Japan, Japan, China, India