The biggest threat to a revolution in emerging market trade may be the emerging markets themselves as Brazil slaps import curbs on Chinese toys, Russia claims China dumps cold-rolled steel and China keeps its currency undervalued.
Brazilian stocks are at their cheapest relative values since 2009, prompting Van Eck Associates and Thornburg Investment Management to buy builders and retailers on bets a year of higher interest rates is ending.
Eike Batista’s net worth is $6.8 billion less than previously estimated because new details on his deal to sell a stake in his EBX Group Co. imply a lower value for his Brazilian commodities empire, according to the Bloomberg Billionaires Index.
Colombia, Latin America’s murder capital when Pablo Escobar ran the Medellin drug cartel in the 1980s, produced the region’s best risk-adjusted stock returns over the past decade as improved security bolstered economic growth and foreign investment.
Grupo Elektra SA, the retail and banking firm controlled by billionaire Ricardo Salinas, fell the most in 14 years after stock-market rule changes threatened its position on Mexico’s benchmark IPC index.
Russian stocks traded in the U.S. tumbled for an eighth straight week, the longest losing streak in almost four years, on concern President-elect Vladimir Putin won’t undertake the changes necessary to reform the economy.
Emerging-market equities rallied a third month in the longest stretch of gains since 2010 as China’s rebounding economy and signs of an improving global outlook bolstered financial and industrial stocks.