Today’s WSJ has the story. The other surprise here is the large equity decline in China and India:
…the only booming stock markets are those in the most emerging of emerging markets: Pakistan, Peru, and Chile. Those stocks markets have risen, respectively, 9.5%, 7.1%, and 6.6% this year, according to data provided to Deal Journal by FactSet Research Systems. Taiwan, it should be noted, posted a 7.5% rise for the first quarter.
As for the BRICs? Brazil is down 11%, Russia is down 13%, China is down 26% and India is down 40%. Overall, the average for all world markets this year to date is a loss of 11%, which makes the U.S., what, an outperformer with its decline of 9%.
Other risers include Thailand at 3% and Mexico at 1.5%; the biggest decliner after India is Turkey, down 35% since the year started.
Posted: April 2nd, 2008 under Africa, Americas, Asia, Emerging Markets, Equities, General.
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