Stock Markets Analysis and Opinion

China Rebound Powers Emerging Market Stocks to a 7% Surge in September

2024.10.01 10:04

Emerging-market stocks surged in September, delivering the lead performance for the major asset classes, based on a set of ETFs.

Real estate shares were also strong performers last month, extending recent strength for these stocks. Commodities, once again, were the downside outlier.

Vanguard Emerging Markets () rose a sizzling 7.3% in September, beating the rest of the field by a wide margin.

The gain marks the eighth straight monthly increase for the ETF and the strongest rally in nearly two years.

A key driver of last month’s red-hot rise for these shares: A dramatic rebound in China stocks following news of a more aggressive stance on stimulus programs to support the country’s slowing economy.

Foreign property () and US real estate investment trusts () continued to post strong gains last month.

September marks the third straight month that property shares posted leading (or in September’s case near-leading) returns relative to the rest of the field.

Asset Classes - Total Returns

Commodities Lag, Bonds Rise

US stocks () and bonds () continued rising last month. The only loser in September was commodities ().

The 0.2% dip for raw materials marks the third straight monthly decline. Gold (), however, is bucking the trend for commodities writ large with another strong monthly rise of 5.1%.

For year-to-date results, rallies dominate the field, led by US shares (VTI) with a 20.6% gain for 2024. The weakest performer this year: foreign inflation-linked government bonds (), which is flat so far in 2024.

The Global Market Index (GMI) posted its fifth straight monthly gain, advancing 1.9% in August.

GMI is an unmanaged benchmark (maintained by CapitalSpectator.com) that holds all the major asset classes (except cash) in market-value weights via ETFs and represents a competitive benchmark for multi-asset-class portfolios.

Year to date, GMI is up a strong 15.3%

For the one-year window, GMI continues to reflect a middling performance relative to US stocks (VTI) and US bonds (BND).

GMI vs US Stock & Bond Markets



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 60,779.28 2.58%
ethereum
Ethereum (ETH) $ 2,391.48 2.19%
tether
Tether (USDT) $ 0.998829 0.10%
bnb
BNB (BNB) $ 568.70 1.38%
solana
Solana (SOL) $ 139.74 2.97%
usd-coin
USDC (USDC) $ 0.999654 0.06%
xrp
XRP (XRP) $ 0.526928 1.19%
staked-ether
Lido Staked Ether (STETH) $ 2,390.55 2.18%
dogecoin
Dogecoin (DOGE) $ 0.107857 0.96%
tron
TRON (TRX) $ 0.159304 0.38%
the-open-network
Toncoin (TON) $ 5.08 2.48%
cardano
Cardano (ADA) $ 0.33919 1.94%
avalanche-2
Avalanche (AVAX) $ 25.94 1.44%
shiba-inu
Shiba Inu (SHIB) $ 0.000017 2.87%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,826.50 2.21%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 60,725.27 2.45%
weth
WETH (WETH) $ 2,393.71 2.17%
chainlink
Chainlink (LINK) $ 10.63 2.46%
bitcoin-cash
Bitcoin Cash (BCH) $ 322.08 1.95%
dai
Dai (DAI) $ 0.999619 0.07%
polkadot
Polkadot (DOT) $ 4.05 1.60%
leo-token
LEO Token (LEO) $ 6.05 0.84%
uniswap
Uniswap (UNI) $ 7.39 3.67%
sui
Sui (SUI) $ 1.87 4.61%
near
NEAR Protocol (NEAR) $ 4.64 5.99%
litecoin
Litecoin (LTC) $ 64.82 1.26%
bittensor
Bittensor (TAO) $ 576.64 2.81%
aptos
Aptos (APT) $ 8.41 8.73%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,512.52 2.19%
pepe
Pepe (PEPE) $ 0.000009 4.19%
internet-computer
Internet Computer (ICP) $ 7.90 1.62%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.34 6.52%
kaspa
Kaspa (KAS) $ 0.13218 3.12%
first-digital-usd
First Digital USD (FDUSD) $ 0.998587 0.47%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.36695 2.96%
monero
Monero (XMR) $ 149.59 2.05%
ethereum-classic
Ethereum Classic (ETC) $ 18.25 0.85%
stellar
Stellar (XLM) $ 0.089908 0.16%
blockstack
Stacks (STX) $ 1.66 4.14%
okb
OKB (OKB) $ 41.07 3.90%
ethena-usde
Ethena USDe (USDE) $ 0.998025 0.08%
dogwifcoin
dogwifhat (WIF) $ 2.35 5.17%
immutable-x
Immutable (IMX) $ 1.40 3.37%
aave
Aave (AAVE) $ 140.82 0.97%
filecoin
Filecoin (FIL) $ 3.52 3.59%
crypto-com-chain
Cronos (CRO) $ 0.07567 0.72%
render-token
Render (RENDER) $ 5.13 3.91%
optimism
Optimism (OP) $ 1.54 6.22%
mantle
Mantle (MNT) $ 0.588189 2.72%
injective-protocol
Injective (INJ) $ 19.47 1.74%