Investors slow to unearth hidden emerging equity gems
* Airlines, car makers reap benefits of lower energy costs
* Relative value opportunities in most shunned markets
* GRAPHIC - Emerging equities and crude oil prices:
By Claire Milhench
LONDON, March 16 (Reuters) - Indian airlines, Brazilian chemical producers and Turkish car makers and are just some of the emerging market firms thriving thanks to low commodity prices, and yet investors are often slow to catch on due to the asset class's dismal overall performance.
With emerging equities underperforming developed markets for five years running, investors have perhaps been too ready to lump all such stocks together - including some hidden gems buried by the landslide of selling.
In India, the valuations of some companies posting strong earnings are already high due to rapid economic growth and hopes for economic reform under Prime Minister Narendra Modi.
However, investor sentiment is near rock bottom for Brazil, which is deep in recession and political crisis, while Turkey is troubled by security and economic problems. Continuación...