The much-awaited rally 2.0 in emerging-market stocks may already be under way.
Investors’ risk appetite got a boost after Joe Biden’s U.S. presidential win and successes in vaccine development, pushing the benchmark MSCI gauge toward its best month since March 2016. The emerging-market equity rebound since the coronavirus rout in March is now worth $8.3 trillion, meaning more shareholder wealth has been added in the past eight months than in the two-year rally beginning 2016.
