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Have EM Health Care Stocks Bottomed?

EMERGING MARKETS

Executive summary

  • The past year was marked by a significant divergence between EM and World health care equities; EM HC equities are among the worst performing stocks this year, down nearly 20%.
  • Strong USD, rising LT bond yields and China crackdowns have been among the major factors behind EM equities weakness, particularly HC stocks.
  • However, the consolidation in LT bond yields combined with China 'reopening' could actually lead to an outperformance of the 'defensive' health care EM equity sector in the medium term.

Link to full publication:

EM Health care.pdf

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Executive summary

  • The past year was marked by a significant divergence between EM and World health care equities; EM HC equities are among the worst performing stocks this year, down nearly 20%.
  • Strong USD, rising LT bond yields and China crackdowns have been among the major factors behind EM equities weakness, particularly HC stocks.
  • However, the consolidation in LT bond yields combined with China 'reopening' could actually lead to an outperformance of the 'defensive' health care EM equity sector in the medium term.

Link to full publication:

EM Health care.pdf

Keep reading...Show less