Outlook on Emerging Markets
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چکیده
Although December’s US rate hike has removed one source of uncertainty for emerging markets investors, 2016 started on a sour note, with 2 January 2016 making history as one of the worst first trading days on record for many markets around the world. Chinese onshore exchanges were hard-hit by weak Chinese manufacturing data and further renminbi depreciation. Sharp declines on the Shanghai and Shenzhen exchanges triggered newly forged “circuit breakers” that halted trading (more later in this Outlook). Additionally, global markets were anxious due to increased sectarian violence in the Middle East.
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