MONEY MATTERS: Emerging markets snap back
Global stock markets rose modestly, with the MSCI All Country World index inching towards a record peak, as concerns over a North Korea-US stand-off ebbed somewhat.
But investor spirits remained restrained amid further controversy surrounding the conduct of US President Donald Trump and terrorist after attacks in Spain.
Emerging market stocks bounced, outperforming developed-market peers, while technology shares extended recent gains.
Elsewhere, the euro dropped versus the US dollar, halting a five-week rally, after minutes from the European Central Bank’s meeting in July revealed anxiety among policymakers over the single currency’s strength.
•During the four years of Shinzo Abe’s premiership, Japan’s companies have reportedsurging profits, the yen has depreciated, and economic data has been decidedly mixed.
That is, until the second quarter of this year, when the country’s gross domestic product expanded at an annualised pace of four per cent, topping economists’ expectations and the 1.5 per cent rate registered in the first quarter.
Japan is now enjoying its longest period of growth in a decade.
Still, inflation continues to undershoot the Bank of Japan’s target of two per cent.
• Economically, much has changed since India celebrated its establishment as a sovereignstate.
While further progress on reducing unemployment and raising living standards is needed, progress has been made on many fronts.
PM Narendra Modi continues to press ahead with an ambitious reform programme: the introduction of a goods and services tax is the result of efforts to cut red tape and boost economic growth.
The value of investments and the income they produce can fall as well as rise. You may get back less than you invested.