BRICs back in favour with emerging-market investors

Sao Paulo

RESURGENT growth is reviving one of the past decade's hottest trades.

Emerging-market investors are again piling into the so-called BRIC nations - Brazil, Russia, India and China - pushing monthly inflows and stock prices to nearly two-year highs. The bet is that a pick-up in the global economy will fuel demand for the countries' commodity exports, drive an expansion of middle-class consumption and help them shore up fiscal accounts.