A rally in Hong Kong stocks lifted a broader index of emerging market shares from one-week lows on Thursday, while losses in most other bourses amid recession worries capped gains.
MSCI’s index of emerging market stocks rose 1.0% after two days of declines. Hong Kong’s tech, internet and property stocks rallied, lifting the main index 3.4% as investors cheered some easing of COVID curbs in China.
But, as recession fears lingered, exacerbated by worries about the U.S. Federal Reserve’s hawkish monetary policy stance, risk sentiment took a hit, leaving a just a handful of emerging market stocks indexes with small gains.
Fidelity Emerging Markets Limited (LON:FEML) is an investment trust that aims to achieve long-term capital growth from an actively managed portfolio made up primarily of securities and financial instruments providing exposure to emerging markets companies, both listed and unlisted.