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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EMERGING MARKETS
- In this chart, we compute the z-score of the P/B ratios for all the major EM equity markets using 5.5 years of data (starting January 2016) and then rank them from 'cheapest' to 'most expensive' based on the distance between the minimum value and the current z-score.
- Interestingly, Russian equities, with a current P/B ratio of 1.15, appear as the most 'expensive' looking at 5.5 years of data.
- On the other hand, Indonesian equities are the second cheapest market after China.
- With a current P/B ratio of 2.2, Indonesian equities are currently trading at a 27% premium over MSCI EM (with a current P/B of 1.73).
- As expected, Turkish equities appear as the third cheapest equity market among the EM world.
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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