Emerging Markets: Stirred, But Not Yet Shaken

Emerging Markets: Stirred, But Not Yet Shaken – Goldman Sachs Exchanges

Bullish:

$KOREA - Korean equities expected to see 10-12% upside driven by strong earnings growth from AI theme and semiconductor demand
$TAIWAN - Taiwan benefits from AI-driven semiconductor demand with strong pricing power in the AI supply chain
$BRAZIL - Brazil as energy exporter on right side of terms of trade divide, expected to consolidate and perform better as conflict deescalates
$SOUTHAFRICA - South Africa as commodity exporter expected to consolidate and perform better as conflict deescalates
$EM - Emerging markets underweight in global allocations with 10-12% upside potential and improved macro resilience