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Article: Emerging markets.
- Article from:
- The Banker
- Article date:
- February 1, 1998
CopyrightCOPYRIGHT 1998 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In 1997, emerging markets were shaken by tremors reverberating from the financial and currency turmoil in southeast Asia.
Among markets covered by the International Finance Corporation's monthly investable indices, the top two performers last year were found in Europe -- Turkey, which rose a stunning 109.9% in dollar terms, and Hungary which gained 60%. The third best performer was Mexico, which rose 48.8%. As a region, Latin America gained 25.9%.
In contrast, the losses in southeast Asia reflected the devastation wrought by the crisis. At the end of December 1997, the scorecard leaves Thailand, where the turmoil began, 78.8% down on the year in ...