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Don't Be Afraid to Invest in Emerging Markets
Investing in Emerging Markets is a Must.
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FINANCIAL MARKETS SUMMARY for WEEK ENDING 6/20/08
US investors grasped at a straw this week after China and some other emerging markets announced that they were cutting their fuel subsidies(These countries are keeping the price of fuel low with subsidies). Stocks climbed and oil had a steep 1-day fall as Wall Street figured that the demand for fuel would now decline. But then someone reminded Wall Street what happened the last time China cut subsidies--demand for fuel rose anyways! That's because most of the demand for fuel there is not from consumers but from industries building out the infrastructure in the country.
So it turned out not to be a good week for the US stock market as the major indices fell from 2%-4%. The US stock market also dragged down the major foreign stock markets in sympathy. The major trends in the other financial markets continued ----- the US dollar resumed its decline and commodities as a whole resumed their rise. In commodities,agricultural commodities did come in for a bit of profit taking, but metals such as copper & aluminum were up sharply and oil also finished higher.
Tony Daltorio, Investing Editor
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