Emerging market stocks entered so-called "bullish territory" on Monday as another China-led rally in Asia's biggest bourses sent the main MSCI emerging markets index 20% higher. from its October low.
The MSCI emerging markets index, which covers 24 countries and nearly 1,400 companies, rose 2.4% on Monday for its fifth straight session of gains.
Since hitting its lowest level in almost two and a half years in October, the combination of declining global borrowing costs, a weaker dollar and the lifting of China's COVID-19 restrictions have sent the index recovers more than half of the ground lost in the previous 10 months.
Chinese stocks, which make up a third of the MSCIEF index and much more if China-focused companies listed on other markets are included, are up almost 45% from their lows.
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