Morgan Stanley Asia and emerging markets equity strategist Daniel Blake projects
MSCI Emerging Markets index EPS to rise 40% in 2026 and slow to 9% in 2027,
slightly below consensus. He says recent earnings consensus revisions in EM have
been driven mainly by information technology and energy. The firm favors North
Asia, Brazil, Greece, Hungary and Saudi Arabia, prefers China A‑shares, and
highlights capital expenditure (capex) outperformance versus consumption.