Developed Asian and emerging-markets stocks continued to climb in January, strongly outperforming developed peers still battling the economic ravages of the pandemic. Could this be the beginning of a major shift in regional leadership?
The FTSE Asia Pacific ex Japan and FTSE Emerging Indexes both rose 3.7% for the month, led by respective outperformances from South Korea and China (up 4.4% and 7.2%, respectively). Most developed markets, particularly the UK, lagged in January, culminating in a 0.1% drop in the FTSE All-World Index.
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