Although 2001 was not a good vintage for equity markets everywhere, especially coming off the back of a record year in 2000, new figures released by Citibank indicate that investors in the US are shifting their attention to emerging Asia American Depositary Receipts ADRs.
This trend became particularly noticeable after September 11, when the spread pick up on ADRs out of emerging Asia China, India, Indonesia, Korea, Malaysia, Pakistan, Philippines, Sri Lanka, Thailand and Taiwan against those from developed countries increased by a significant margin.
In the 49 trading days prior to 911, the spread between the MSCI emerging Asia indices and SP 500 index was 3.83%. During the 52...
