India, China lead April recovery

MUMBAI: : After posting a 5.11 per cent loss in March, emerging markets reversed direction and posted a strong 7.49 per cent gain in April, according to Standard & Poor’s. Double-digit gains were posted during the month by both China (+15.10 per cent after declining 12.36 per cent in March) and India (+11.49 per cent versus -12.35% in March). In all, six of the 26 markets posted double-digit gains, with 16 increasing and 10 declining. Turkey rebounded from a 20.09 per cent loss in March to lead all markets with a 15.75 per cent gain in April.

The developed world markets gained 5.15 per cent in April versus a loss of 8.95 per cent in March, partially due to higher returns by Japan (+6.61 per cent) and the UK (+5.85 per cent). Twenty-four of the twenty-six markets were up for the month, with only slight losses posted by both Finland (-0.34 per cent) and Denmark (-0.21 per cent). While April produced only one double-digit developed market gain (Norway, +11.25 per cent), the lower returns were accompanied by lower volatility.

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