India a Wake Up Call for Global EM Bears, Bull Market Returned: J.P.Morgan

        0523 GMT [Dow Jones] J.P. Morgan says the bull market in global emerging markets has returned, with China and Russia lagging behind the rest. "The Indian election is a wake-up call for those underweight EMs," the bank says, continuing that emerging markets offer "both improving economic fundamentals and now the prospect of better policy." J.P. Morgan expects global emerging markets to undergo a two-stage rally: "the current stage is a reduction in risk premiums as fears on funding current account deficits recede. Stage two is margin improvement and top line surprise." It sets a "conservative" target for year-end 2014 on the MSCI EM index at 1,200, implying 16% upside. (jacky.wong@wsj.com; Twitter: @jackycwong)
        (END) Dow Jones Newswires

        May 19, 2014 01:23 ET (05:23 GMT)