Emerging equity valuations are "expensive"

The latest figures show that emerging market valuations are at their highest level since October 2007, and have entered "expensive" ranges, as early gains have been evident. Emerging market equities are now trading at 15, citing Morgan Stanley's relevant stock index data, 13th. 4 times times, while the US standard and poor 500 index shares are 14 times times the overall earnings. In addition, the overall market for emerging markets is 1 per cent. 7 times times the highest level of history, with a 1 per cent overall market share of the world's 23 developed economies.　　5 times times.　　Emerging market equities in the second quarter of this year led global gains of about 34%, according to data from Bloomberg, with major indices in Mumbai and China's Shanghai markets up 49% and 25% per cent respectively, significantly more than 500 of Morgan Stanley's Global index 20% and the S & P 15%. Many institutions believe that the overall valuations of emerging market equities are so high, stemming from the influx of funds into markets such as China, Brazil and India in the context of a generally depressed global economy.　　"There is already a risk in emerging market equities," says Matthew Giuliani, a fund manager for about $5.6 billion trillion, the Pakistani-Latin asset management company. Market monitoring data show that investors are "suspicious" of whether emerging market equities have been able to continue this year. Last week, Morgan Stanley's developing-country index fell 8 from its highest point this year. 3%, by contrast, the Morgan Stanley Global Index and the S & P 500 index fell 7 respectively in the same period. 4% and 6. 8%. Emerging market funds showed 5 in the week ending July 8, according to data from Bloomberg.　　A net outflow of 400 million dollars. Some, however, believe that high valuations are based on the fact that future growth expectations for developing economies remain strong. As a whole, developing economies are growing at 1 per cent this year and next, according to the International Monetary Fund's latest forecasts. 5% and 4. 7%, the growth rate of developed economies in the next two years was minus 3 respectively. 8% and 0. 6%. "In the past, emerging markets were vulnerable and things are different now, so [stocks] should be more expensive," said Le Caux, a 28 billion-dollar Camignac asset management firm. "(according to Xinhua)