GRAPHIC-Latam leads, China smashed as emerging markets hit 2016 halfway mark

jueves 30 de junio de 2016 10:45 GYT

By Marc Jones

LONDON, June 29 (Reuters) - Emerging markets are comfortably ahead of their developed market counterparts at the year's halfway mark, thanks to stellar gains in Latin America, Russia and Asian hotspots such as Malaysia and Indonesia.

It all comes after one of the worst starts to a year for emerging markets on record when worries about China, commodity markets and U.S. rates sparked a global rout.

Since then, however, the trend has been mostly up, as Fed rate hike prospects have evaporated and worries have eased about volatile politics within some emerging economies, fuelling robust returns across emerging asset classes, this chart shows:

"It has been a pretty good year I would say," said Aberdeen Asset Management's Kevin Daly. "It been about very accommodative global monetary policy conditions, secondly the easing concerns about China's currency and capital flight, and you have also had a pretty strong bounce in commodities prices."

The biggest exception has been China where the yuan ended the second quarter with its biggest quarterly fall on record and mainland-listed A-shares down almost 20 percent in dollar terms since the start of the year.

Peru has been the star emerging equity performer with a 46 percent surge in dollar terms with Brazil and Colombia posting gains of 40 percent and 24 percent respectively to complete a South American clean sweep of the top three:

Asia's best performer Thailand is up 17 percent and Russian shares have jumped 19.5 percent, thanks to an 85 percent rebound in oil prices since mid-January.   Continuación...