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Report: Morgan Stanley reduces staff in Asia

New York-based Morgan Stanley reduced staffing in its equities business in Asia, including Hong Kong and Singapore, as part of a plan to cut costs globally, Reuters reported May 29.

Those affected by the cuts included about half a dozen senior executives and mid-level staff in equity sales, trading and research, the report said, citing sources familiar with the matter who requested anonymity. Morgan Stanley declined to comment to the news outlet.