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Russell Emerging Market Index Shows Sector Down 5.3% Year-To-Date

By Kitco News
Friday January 31, 2014 10:58 AM

(Kitco News) - It has been a bad start to the year for emerging markets, according to the Russell Emerging Market Index.

In a media release, the investment firm said that emerging market equities reflected in the index have dropped 5.3%, year-to-date, as of Jan. 29.

Of the biggest losers, Colombia and Turkey took the top spots, racking up double-digit losses of 10.9% and 10.2% respectively, the investment firm said. Brazil and China showed similar weakness, dropping 9.6 and 6.0% respectively so far this year.

"Recent monetary actions in Turkey, South Africa and India have contributed to a general rise in emerging market worries,” said Gustavo Galindo, emerging markets portfolio manager with Russell Investments, in the news release.

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However, according to Russell Investments, not all emerging markets are created equal.

Although the sector is down year-to-date, Russell Investments noted that the sector isn’t entirely in the red. Of the 20 countries listed in the emerging market index, four are ending the first month of the year with positive gains. The index shows that the United Arab Emirates leads emerging markets with equity gains of 9.0%. Indonesia comes in second with gains of 3.1%.

The only other two countries in the index that showed positive returns were the Philippines and Morocco with gains of 0.7% and 0.4%, respectively.

"The wide variation in country index returns within emerging markets since the beginning of the year illustrates the diverse nature of less mature equity markets and highlights the importance of country selection," said  Galindo.

By Neils Christensen of Kitco News; nchristensen@kitco.com



Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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