LONDON: Two nations divided by geography – and united by a history of financial protectionism – embarked on a journey toward more transparent markets three years ago. Today, they’ll learn whether foreign investors are ready to embrace their tales of transformation.
As MSCI Inc decides whether to promote Saudi Arabia and Argentina to emerging-market status, expanding the asset class by as much as US$600bil, it’s not just those nations that are on the edge. An upgrade for either or both could boost sentiment after a selloff that erased US$2.7 trillion from developing-nation equities since late January.
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