I’ve been giving heavy attention to the Indian economy recently, given the severe underperformance the country’s equity markets have exhibited as capital flight took hold earlier in the year.
Market update: Most markets overnight looked to open lower on news the U.S. Federal Reserve was not taking immediate action and that the committee will need to assess conditions before acting.
In today’s emerging market best of the web, a new survey shows the rupee is expected to head lower, Turkish and Azerbaijani ties are getting tighter, one investor is bullish on Brazil for the long haul, China is unlikely to rival the U.S. as a superpower, and Russia continues to pour investment into its eastern regions.
As the weekend was mercifully free of disastrous news from Europe, markets around the globe were able to rally. Positive news from Premier Wen Jiabao on the Chinese economy and growth from the Thai economy also helped markets move higher.