As another China-driven surge in Asia’s biggest bourses drove MSCI’s main EM indicator 20% higher than its previous major trough in October, fast-charging emerging market stocks entered “bull market” territory Monday.
The MSCI Emerging Markets Index jumped 2.4% in its fifth consecutive session of gains on Monday. This index covers 24 countries and more than 1,400 businesses.
In October, the index fell to its lowest point in two-and-a-half years. However, the global borrowing cost crisis, weaker dollars and China’s lifting of COVID-19 restrictions have helped the index regain more than half of what it had lost in the previous 10 months.
Chinese stocks have risen almost 45% from the lows, accounting for nearly a third of MSCIEF’s index.
Both South Korean and Taiwanese stocks, which have respective 13.8% & 11.3% MSCIEF weightings respectively, have also seen a significant increase of approximately 18% compared to 20%.
Reporting by Marc Jones; Editing by Hugh Lawson
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