This report revises the 12-month MSCI EM target to 2000, citing strong earnings growth in North Asian tech-heavy markets. It also highlights tactical opportunities in domestic cyclicals in Brazil and South Africa amid potential geopolitical de-escalation.
Key Takeaways
- 1.MSCI EM 12-month target revised upward to 2000, supported by robust earnings growth in North Asian markets.
- 2.High FII outflows observed in Korea, Taiwan, and India as AI-led selloffs and global risk sentiment impact flows.
- 3.Potential relief rally for Brazil, South Africa, and UAE if Iran war tensions subside.
Table of Contents
- Focus: Earnings-led 12m Upside; Tactical Ideas
- Allocation and Key Market Views
- Themes: Balancing AI/tech beneficiaries with domestics
- EM Cyclical and Quality Themes
- Brazil Rate Sensitivity
- Brazil Election Playbook - How have Brazilian equities historically traded around elections?
- CEEMEA Implementations
- Performance Snapshot: Regions, Markets, Commodities and FX
- Earnings Revisions
- Valuations in Context
- GEM Equity Fund Flows
- Fund Flows and Liquidity
- EM Macro Equity/Thematic Slices
- Style Monitor
- Macro Forecasts
- Equity Risk, Volatility and Correlation
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Authors
Sunil KoulTarun LalwaniMambuna Njie
Securities
MSCI EM
Themes
Artificial IntelligenceCorporate Governance
Regions
Asia PacificBrazilIndiaColombia