China, Brazil, Russia, South Africa Are Top Picks, Bofa Says
Bloomberg, Jan 04, 2010
Jan. 4 (Bloomberg) -- China, Brazil, Russia and South Africa are Bank of America Merrill Lynch’s favorite developing nations stock markets for 2010.
“China’s ample liquidity, strong growth and steep yield curve position it for further outperformance,” Bank of America strategists including Michael Hartnett wrote in an e-mailed report today. “We expect earnings growth in Brazil to be 30 percent higher in U.S. dollar terms over the coming year, and believe the government’s strong balance sheet and the resilient consumer will drive equity performance.”
Russia and South Africa will continue to benefit from oil and commodity price increases, Bank of America said.