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BlackRock upgrades outlook for emerging market stocks
August 22, 2016 / 2:51 PM / a year ago

BlackRock upgrades outlook for emerging market stocks

NEW YORK, Aug 22 (Reuters) - BlackRock Inc said on Monday it is upgrading its view on emerging market stocks, saying the equities will thrive as central banks keep interest rates low.

“The ‘lower-for-longer’ rate outlook reduces the risk of a sharply rising U.S. dollar,” increases the likelihood of rate cuts in emerging markets and makes assets in those markets relatively attractive, according to a note by Richard Turnill, global chief investment strategist for the world’s largest asset manager.

He said BlackRock prefers “countries showing economic improvements or having clear reform catalysts,” citing India and countries in Southeast Asia. (Reporting by Trevor Hunnicutt; Editing by Paul Simao)

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