For more information please contact us
ashmail [at] ashmoregroup [dot] com (Email Ashmore)
EM assets outperformed despite strong correction in US tech
Weekly investor research
07 September 2020
Equity markets declined on the back of a sharp correction in US technology stocks, but EM assets outperformed. Brazil renewed emergency support for poor families and presented an administrative reform to Congress. South Africa’s PMI rose sharply in August, but Eskom’s problems remain a drag on the economy. Germany confirmed that the Russian politician Alexei Navalny was poisoned with the Novichok nerve agent. Uruguay announced a multi-year budget consolidation and South Korea announced a large fiscal expansion. Argentina’s weight in the JP Morgan EMBI GD Index is expected to increase this week. Angola’s credit rating was downgraded to CCC. China posted strong export numbers amidst continuing provocation by the US government.