<div id="readability-page-1"><div><p>M Stanley stated that while there are some investment opportunities in emerging market equities, the investment theme for buying emerging market stocks lies in portfolio risk diversification and their negative correlation with the USD. However, other asset classes can provide similar advantages and offer a higher Sharpe Ratio. Therefore, it believes that emerging market equities have not yet entered a new long-term bull market.</p><p>M Stanley noted that emerging market countries lack a clear development outlook comparable to that of Japan, valuations are relatively high, earnings are cyclical, and geopolitical risks persist. Throughout the cycle, global investors positioning in the MSCI Emerging Markets Index should not exceed the weighting of the global equity benchmark index, and the focus should be on stock selection, including AI and energy themes. (mn/j)</p></div><p>This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.</p></div>

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<p>M Stanley has indicated that emerging market equities have not entered a new long-term bull market. While there are investment opportunities for portfolio risk diversification, other asset classes may offer similar benefits with a higher Sharpe Ratio. The firm highlights high valuations, cyclical earnings, and geopolitical risks in emerging markets. Investors should limit their exposure in the MSCI Emerging Markets Index to the global equity benchmark and focus on selective stocks, particularly in AI and energy sectors.</p>

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M Stanley: Emerging Market Equities Have Not Entered a New Long-Term Bull Market