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April 21, 2021

Templeton’s Mark Mobius: Emerging-markets selloff to deepen

The worst isn’t over for emerging markets after the benchmark stock index sank to a five-month low and the nations’ currencies tumbled, said Templeton Emerging Markets Group’s Mark Mobius, sfgate.com reports, quoted by Mediafax. “The negative sentiment is pretty much in place so you can expect a lot more selling,” Mobius, who oversees more than USD 50 billion in developing nations as an executive chairman at Templeton, said in an interview from Rio de Janeiro today. “We are looking but actually not buying at this stage. Prices can come down or take time to stabilize.” The outlook from Mobius, a consistent advocate of emerging markets who’s been investing in the countries for more than 40 years, contrasts with that of Jim O’Neill, who created the BRIC moniker for the four largest developing economies and said this week that the rout created a buying opportunity.

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