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Trade of a decade? It doesn't bode well for emerging markets

Falling exports and contracting manufacturing persist, unlike the forces behind the rally

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ECONOMIC WEAKNESS: Developing economies have shown few signs of a pickup. Markit Ltd's gauge for manufacturing in developing nations contracted for the 11th straight month in February. The economic weakness is also manifested in corporate profitability. The return on equity for companies in the MSCI benchmark dropped to 10.5 per cent, near the lowest since 2010.

New York / London

BEHIND the best gains for emerging markets since 2009, there are some ominous signs that the rally is about to hit a wall.

The 13 per cent surge in stocks last month was accompanied by the lowest trading volume for five years in the markets with the biggest

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