Morgan Stanley raise weighting of Johnson Electric portfolio to 5%

Morgan Stanley Dean Witter said it raised the weighting of Johnson Electric (0179) in its Hong Kong model portfolio to 5 percent, from previously 3 percent. In a report to clients, strategists Henry Ho, Ajay Kapur and Louis Shan said three paradigm shifts are under way for Hong Kong. Morgan Stanley said Johnson Electric is on the right track and has avoided these traps. "It is globally competitive, riding on Hong Kong's and China's advantages, is not dependent on property and has moved early to re-engineer. Johnson is a stock for the long haul."

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