EMEAs beat developed market peers

The EMEA (Emerging Europe, Middle East and Africa) markets have done relatively well versus their developed market peers over the last few months. For example, the South African FTSE/JSE Africa All-Share index is up by 19.25% in the three months to 2 January 2003, with the Polish WSE WIG index up by 20.73% over same time period, both in dollar terms. Among other EMEA markets, the Turkish stock market recently rallied on the back of the election results even though the victors (AKP) have no experience in government. The magnitude of their victory enabled Turkey to have its first majori...