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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 the past few weeks, we have seen that the sharp decline in Evergrande stock price has been weighing on the entire EM real estate sector, which appears now as the 'cheapest' sector according to our value scoring model.
- The second and third cheapest EM equity sectors are Energy and Materials.
- On the other hand, Healthcare remains the most 'expensive' sector with a PE ratio of 39.8 (vs. 15.7 for EM MSCI) and price-to-book and price-to-sales ratios of 5.15 (vs. 1.9) and 3.70 (vs. 1.6), respectively.
- In this chart, we rank the 12 EM sectors (including EM MSCI Index) from 'cheapest' to the most 'expensive' ones based on the Price-to-Book, Price-to-Sales and Price-to-Earnings ratios.
- To compute the score of each EM sectors, we simply add the rank each time; hence, the lowest score a sector can have is 3 (the cheapest) and the highest score is 36 (most expensive).
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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