Emerging Markets Shift: China's Decline, India's Rise

Written by Thulisa Shandu | Jul 24, 2024 4:00:00 AM

EasyAssetManagement reports on the MSCI Emerging Markets Index which slightly outperformed the S&P 500, driven by gains in Taiwan, South Korea, and India.

The MSCI Emerging Markets Index delivered a 3.6% return in June, slightly outpacing the S&P 500's 3.5% gain. While China was a key driver of the index's outperformance in the first half of the year, its momentum waned in May and June. Instead, Taiwan, South Korea, and India led the gains.

Positive election outcomes in South Africa and India contributed to their respective market rallies, supported by improved currency valuations and earnings prospects. Mexico, however, bucked this trend.

A strengthening US dollar posed challenges for many emerging markets in June but has since eased as expectations for a US interest rate cut grew in July.

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