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While they believe CY15 will be a tougher year for some markets, they remain positive and expect a strong 20% return Sensex target: 33,000. However they believe: While re-rating drove markets in 2014, actual implementation will be critical to market performance in 2015 - reforms from the Government, rate cuts from the RBI and visible signs of earnings recovery from corporates. 2 past trends indicate…
As the Ruble rises, China plans to step up its measures to support growth. Emerging market stocks are headed for the biggest four-day gain in 15 months on December 22, 2014, as investors bet on stabilizing oil prices and China steps up its measures to support economic growth. The Russian ruble also rose for a second day, wiping out fears of a free fall. “These…
Cuba is an island nation between the Caribbean Sea and the North Atlantic Ocean. It is situated 150km off the coast of Florida. The country has a population of 11 million, a GDP –PPP of US$ 121 billion which translate to roughly US$10,200 per capita. Many Canadian investors might not know, but Canada is Cuba’s biggest export partner, with almost 18% of the export coming…
The Canada Pension Plan Investment Board (CPP), through one of its subsidiaries, has invested an estimated $183 million in L&T Infrastructure Development Projects Ltd, a division of Larsen and Toubro Ltd (L&T), India’s largest engineering and construction company. The CPP currently manages assets worth C $234.4 billion. The investment was made by way of subscribing to compulsory convertible preference shares, L&T said in a statement.…
2014 was marked by wide divergences in the performance of emerging markets (EM), in ASEAN countries, such as India and Indonesia, which significantly outperformed their counterparts in Latin America and Eastern Europe. This trend is expected to continue in 2015, marked by improving performance on the back of expectations of a broader, albeit moderate global economic recovery. 1. Year of Elections 2014 was also a…
You’ve probably noticed that oil prices have been sharply falling over the past few weeks. While all consumers might welcome this occurrence, the latest fall in oil prices will significantly benefit Emerging Market consumers and economies such as India, Turkey, China, Thailand, Taiwan, and Hungary. The recent fall in oil prices in quite significant: The price of Brent crude, a major benchmark price for purchases…
Thinking about investing in India? There are many factors that indicate that this is a good idea. For one, India’s rapidly growing economy is currently the world’s third largest in size based on Purchasing Power Parity (PPP), according to the International Monetary Fund’s World Economic Outlook. With a GDP of US$7.3 trillion, India is only outranked by the Unites States (US$17.4 trillion) and China (US$17.6…
Nov 28th 2014 was a groundbreaking date for India – Indian equity markets crossed Rupees 100 Trillion (USD 1.66 Trillion) for the first time in 140 years! Source: http://www.business-standard.com/article/markets/indias-market-capitalisation-crosses-rs-100-trillion-114112800818_1.html
Emerging market countries have the majority of the world’s population and have been contributing the majority of global GDP growth. However, the size of the underlying equity markets remain small compared to the developed countries’ equity markets. We expect to change in the upcoming years. In fact, almost 4 years after overtaking Japan in terms of economic size, the Chinese stock market finally overtook Japan’s…
In a surprising move, China cut interest rates today (November 21) as part of its continuing efforts spur growth in its slowing economy. As a result of the cuts, the benchmark one-year deposit rate is down by 25 bps to 2.75%, while the benchmark one-year lending rate is down by 40 bps to 5.6%. This is the first time in more than two years that…
High inflation typically results in less value for your money, which is typically viewed negatively by investors. However, when investing in emerging market bonds, high inflation triggers higher interest rates and consequently higher yields – benefiting income starved investors. Incidentally, after almost three decades of declining interest rates in developed markets, culminating in record low interest rates to stimulate economic recovery following the 2007-08 financial…
As economic growth in some emerging market countries starts to moderate to more sustainable levels, investors in emerging market bonds stand to benefit from higher yields as well as bond price appreciation. “More moderate growth will result in lower inflation and consequently lower interest rates,” advises David Kunselman, Senior Portfolio Manager with Excel Funds Management Inc. Inflation will fall on the back of improving financial…

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