Emerging markets have had a tough few years. Slowing growth in China after the global financial crisis has meant reduced commodity demand and weaker investor sentiment for the group. Then the plunge in crude prices led to lower income for oil-producing nations, along with weakening currencies and falling foreign direct investment. But 2016 looked to be the year the group could turn a corner. The price of oil and of some metals has rebounded, and dollar strength has plateaued. The iShares MSCI Emerging Markets (NYSE: EEM) was up 26% in mid-July from its January low. One particular emerging market looked to be a standout among the group, with shares of its country fund up 37% from the January low just to the end of April. The country's current account deficit, the difference between exports and imports, shrank to a five-year low in 2015 and foreign investors were pouring money into the economy. That is, until political uncertainty started gripping the country in late April and erupted in a failed coup this month.
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Specialist Legal advice and support for foreign companies and project Investments in Turkey