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Stocks still look bullish after strong run

Volatility in emerging markets, US remains popular

[SINGAPORE] Five years ago, in the depths of the global credit crunch, financial markets around much of the developed world were an unqualified mess. Today, global stocks are up some 140 per cent from their 2009 lows.

As the bull run continues after developed market stocks posted 20 to 30 per cent gains last year, asset managers around the world remain broadly positive on stocks. They cite a slow but recovering global economy, a more resilient global financial system, and stronger corporate balance sheets.

Some worry that the outflows from emerging markets have yet to end, with the deflating of asset bubbles potentially causing catastrophic consequences for highly-indebted countries. Yet there...

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