Emerging Stocks Rise From 5-Month Low; Rail Shares Gain
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Sentiment among investors in emerging-market equities has reached “panic” levels after a 15 percent price drop in three months, although this is a sign stocks may rise in the next six months, Citigroup Inc. said.
Emerging-market stocks have advanced an average 7.5 percent in six months and 23 percent in a year on past occasions when Citigroup’s “Whether Vane” has been at such levels, New-York-based analysts Geoffrey Dennis, Howard Park and Christina Wood wrote in an e-mailed note to clients dated yesterday.