Research & Insight

MSCI yesterday (June 15th) announced changes to their country classifications.

The results of 15th general elections in India were unlike anything expected by the vast majority of people, including the political parties themselves and... yours truly. The Congress led UPA (United Progressive Alliance) emerged as the largest alliance with 262 seats, 10 short of the simple majority; while BJP (Bharatiya Janata Party) led NDA (National Democratic Alliance) won 160 seats. The Third (comprising regional parties and the Left) and fourth front (another set of regional parties previously part of the UPA) managed 79 and 28 seats respectively.

The Korean market has been very strong through March and April. MSCI Korea NDR in local currency was up 14% in March and 12.6% in April. The index in USD was up 26.4% in March and 21.4% in April due to a strengthening Won which was up 10.9% in March and 7.9% in April.

At the end of the first quarter, 2009, there is possibly a sense of QoQ déjà vu… or is there? A quarter of circular motion remorselessly draining away… or a projectile breakout to blue skies (or ocean depths) and green shoots, so to speak?

Mumbai and India are going to the polls. The newspapers and television news channels are agog trying to keep pace with the free for all punches and counter-punches traded by candidates and political parties.