Emerging-market stocks are now an adjunct of the global technology boom rather than captive of commodity prices, according to Michael Shaoul, chief executive of Marketfield Asset Management LLC. Shaoul drew that conclusion in a report Thursday that showed the MSCI Emerging Markets Index held up better than the CRB Commodity Index since 2014. Technology stocks’ weight in the MSCI gauge almost doubled in the past decade to 25.1 percent, according to data compiled by Bloomberg. Energy and raw-materials shares dropped by almost half, to a combined weight of 14.5 percent, in the same period.
Source: Bloomberg
Jr Trader Petar Milanov
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