Russia's RTS stock index was up another 3.2% today, while China was up 1.71% and India was up 2.3%. The BRIC (Brazil, Russia, India, China) countries continue to surge higher in 2009, as they've far outpaced stock markets of so-called "developed' countries. Below we highlight their year to date performance compared to the S&P 500. As shown, Russia is up a whopping 72.1% this year, followed by India at 51.6%, China at 44.6%, and Brazil at 39.7%. The S&P 500 is up 0.22%.
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The economic downturn has give emerging economies like BRIC countries an opportunity to make their case for increased access to the economic conversation. Despite speculation, they have decided to continue to use the dollar as a supranational reserve currency. However, the Chinese have subsequently expressed a desire to diversify in the future. This video has more: http://www.newsy.com/videos/making_cents_of_bric
Posted by: @robotsoul | June 18, 2009 at 12:50 PM