Booming Bull Market Rally in Emerging Markets; MSCI Index Reaches 27-Month High Today
BLOOMBERG -- "Emerging-market stocks rose, sending the benchmark index to the highest level in 27 months (see chart above), and currencies strengthened as reports showed China’s manufacturing grew and developing-nation fund inflows hit an 11-month high.
The MSCI Emerging Markets Index climbed 0.7 percent to 1,082.92 at 11:07 a.m. New York time, poised for a fifth straight weekly advance. China’s manufacturing expanded at the fastest pace in four months in September, adding to signs that growth is stabilizing in the world’s fastest-expanding major economy. Investors poured $4.3 billion into emerging-market equity funds in the week ended Sept. 29, the biggest amount since October 2009, and the funds are poised for record annual inflows."
MP: The Emerging Markets Index has gained 9.4% over the last month, and 19% over the last twelve months, and reached the highest level today since June 30, 2008, 27 months ago.