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Emerging market fund managers hunt for bargains after Turkey contagion

Reuters  |  TOKYO 

By Daniel LeussinkTOKYO (Reuters) - Turkey's economic crisis has created headaches for investors and policymakers across emerging markets, but for some fund managers, it's a chance to pick up a range of cheap assets, from Indonesian bonds to Brazilian equities. The bullish view on global growth has been severely tested this year, with stock markets hit by a Sino-U.S. trade war, rising U.S. yields and a dollar rally. MSCI's emerging market equity index is down 9 percent this year while China's main benchmark is off 17 percent. Turkey's problems hastened that selloff. Its lira plunged ...

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First Published: Wed, August 29 2018. 10:20 IST