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Asia's capex trend has already moved 2 per cent above pre-Covid path, making this recovery the fastest compared with the last three cycles, Morgan Stanley said on Monday. The strength in external demand has been a key driver of this recovery with real exports already having risen 5 per cent above pre-Covid path. In India, new commodity and machinery and transport equipment related manufacturing investment projects surged on two-year CAGR basis. Within the region, north Asian economies (China, Korea and Taiwan) and Japan have seen led this recovery, said Morgan Stanley in a research paper. MORE FROM THIS SECTION See...