{"id":11935,"date":"2012-06-29T00:02:11","date_gmt":"2012-06-28T22:02:11","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/egypt-tops-emerging-equities-in-h1-brics-weak\/"},"modified":"2012-06-29T00:02:11","modified_gmt":"2012-06-28T22:02:11","slug":"egypt-tops-emerging-equities-in-h1-brics-weak","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/egypt-tops-emerging-equities-in-h1-brics-weak\/","title":{"rendered":"Egypt tops emerging equities in H1; BRICs weak"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>By Sujata Rao<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON, June 28<\/span> (Reuters) &#8211; Egyptian stocks topped returns<br \/>\non emerging equity markets in the first six months of 2012 with<br \/>\na rise of 30 percent, well above the broader MSCI emerging stock<br \/>\nindex, where spectacular first quarter gains crumbled under the<br \/>\nimpact of the euro crisis.<\/p>\n<p><span><\/span><\/p>\n<p>MSCI&#8217;s dollar-based emerging equity index has<br \/>\nfallen 1 percent in the first six months of 2012, after dropping<br \/>\nmore than 20 percent in 2011.<\/p>\n<p><span><\/span><\/p>\n<p>The index rallied 13.6 percent in January-March, its best<br \/>\nfirst quarter performance since 1992, but surrendered these<br \/>\ngains as Europe&#8217;s debt and banking crisis spread and investors<br \/>\nworried about Chinese and U.S. growth.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;It&#8217;s been a difficult environment for emerging markets&#8230;a<br \/>\ncase of risk-on and risk-off,&#8221; said Jeff Chowdhry, who helps<br \/>\nmanage $4.5 billion in emerging equities at FC Investments.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;In the next six months, the euro crisis will continue to<br \/>\ncast a shadow over the asset class so I don&#8217;t expect any<br \/>\nsustained rally unless we get some resolution.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>The index lags MSCI&#8217;s world index .MIWD00000PUS the second<br \/>\nyear in a row. But it hides sharply diverging performances.<\/p>\n<p><span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>Egypt&#8217;s strong rally after Mohamed Mursi became the<br \/>\ncountry&#8217;s first democratically elected president has made it the<br \/>\nbest performing emerging equity market, with gains of 32<br \/>\npercent. However, it is yet to entirely recoup its 2011 losses.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Sujata Rao LONDON, June 28 (Reuters) &#8211; Egyptian stocks topped returns on emerging equity markets in the first six months of 2012 with a rise of 30 percent, well above the broader MSCI emerging stock index, where spectacular first quarter gains crumbled under the impact of the euro crisis. MSCI&#8217;s dollar-based emerging equity index [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-11935","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11935","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=11935"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11935\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}