Asian Investors Wise to Position Defensively; Morgan Stanley

        0403 GMT [Dow Jones] The risk-reward ratio in Southeast Asia's largest three markets is "skewed to the downside with relatively full valuations," says Morgan Stanley, recommending that investors position themselves defensively to avoid suffering losses. More discriminately in the region, Morgan Stanley says, "We continue to recommend Singapore over Indonesia over Thailand." Morgan Stanley downgrades Indonesian banks to "equal weight" but upgrades Indonesian telcos and Singapore banks to "overweight." (jake.watts@wsj.com)
        (END) Dow Jones Newswires

        May 07, 2014 00:04 ET (04:04 GMT)