Despite a strong start to this decade in 2010, emerging market stocks underperfo...
- Despite a strong start to this decade in 2010, emerging market stocks underperformed developed market peers and were weighed down by events such as the Chinese market sell-off, debt crises in Turkey and Argentina and the Sino-U.S. trade war.
FILE PHOTO: A man monitors a stock index board at a bank in Bangkok, Thailand, February 6, 2018. REUTERS/Athit Perawongmetha/File Photo MSCI’s index of emerging market stocks .MSCIEF has risen just 15% since the start of 2010, while the MSCI World index .MIWO00000PUS delivered a massive 104% return in that period.
Thailand, Philippines and Taiwan led emerging markets, with gains of more than 50% each over the past decade, while Greece, Turkey and Czech Republic bottomed the list with negative returns. The period from 2010 to this December also saw turbulent foreign portfolio flows into emerging markets as overseas investors balked during periodic swings in risk appetite, including a period of rising U.S. interest rates as major central banks began to unwind their crisis-era stimulus.
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