Technical indicator suggests stock bulls have taken over emerging-markets, with stocks forming a so-called golden cross. The last time the emerging-market stock gauge saw a golden cross was in December. Photographer: Dhiraj Singh/Bloomberg
SINGAPORE: Stock bulls have taken over emerging markets (EMs), a technical indicator suggests.
MSCI Inc’s gauge for developing-nation stocks has formed a so-called golden cross, a bullish trading pattern seen when an asset’s 50-day moving average crosses above its 200-day counterpart. The tidal wave of central-bank stimulus has fueled a 43% rally in EM stocks from a four-year low in March.
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