Emerging-market stocks have “restored a lot of value” after eight months of losses, according to Richard Turnill, BlackRock Inc.’s global chief investment strategist. Turnill compared the MSCI Emerging Markets Index’s forward price-earnings ratio, based on profit projections, with the ratio for the MSCI World Index of developed markets in a blog post Friday. Developing countries’ P/E discount widened to 29 percent Friday from this year’s low of 19 percent, set Jan. 26, as their MSCI index dropped 21 percent.
No comments:
Post a Comment