Fast reading
- This year has seen elections in key emerging economies and a flurry of positive policy activity that should provide a supportive backdrop for many emerging market companies. In India, we expect Prime Minister Narendra Modi’s ambitious reform programme to continue following his re-election, while in South Africa, we expect an acceleration in planned reforms.
- South Korean President Yoon Suk Yeol is firmly behind the government’s new ‘Corporate Value-Up Programme’ which aims to reduce the so-called ‘Korea discount’ that sees local companies trade at lower price-to-earnings multiples than global peers. If implemented well, the programme has the potential to provide a helpful tailwind for many South Korean companies.
- The Beijing government remains focused on stabilising the country’s crisis-hit property sector. Unlike its huge stimulus package in 2008, China is taking a more measured approach to minimise the damage, and is seeking to ensure that speculation does not return in the real estate market.
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GEMs Equity Outlook H2 2024
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