, Columnist
A Bull Run in Emerging Markets Is Overdue and Easily Missed
By the time most investors arrive, the party is often already winding down.
Waiting for the rally.
Photographer: Qilai Shen/Bloomberg
This article is for subscribers only.
In China’s resurgent stock market, there’s a lesson for investors about the perils of market timing.
Even after the rally in Chinese stocks that began last month, the widely followed Hang Seng Index and Shanghai Shenzhen CSI 300 Index are no higher than they were nearly two decades ago. It’s not just China. The country represents nearly a third of the MSCI Emerging Markets Index, and it, too, is no higher than it was back in 2007.