BlackRock bullish on EM as profits improve
It upgrades emerging-market equities to "overweight", citing improved fundamentals and stable outlook for US$
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New York
THE world's largest asset manager has turned bullish on developing-nation stocks after a three-month rally that pushed the benchmark index to the highest levels in a year.
BlackRock Inc upgraded emerging-market equities to "overweight" from "neutral", citing improved fundamentals and a stable outlook for the US dollar as the Federal Reserve moves slowly in raising US interest rates. The firm, which manages a total of US$4.9 trillion of assets, similarly raised its outlook on developing-nation bonds last month.
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