Emerging Markets

Emerging-Market Equity Funds Lose Record $48.3 Billion in 2008, EPFR Says Emerging-market equity investors withdrew a record $48.3 billion from their funds in 2008 as the global financial crisis and economic recession hurt demand for riskier assets, according to data from EPFR Global.

Bank of America Will Sell Up to $2.8 Billion of China Construction Stake Bank of America Corp. plans to sell up to $2.8 billion of China Construction Bank Corp. shares, less than a month after scrapping an earlier attempt to raise money from its three-year-old stake.

Chile Will Tap Sovereign Savings, Sell Securities to Spur Economic Growth Chile, the world’s biggest copper supplier, will tap sovereign savings and sell bonds to fund $4 billion in spending as the credit crisis and slumping export demand stifles growth.

Brazil, Colombia Sell $2 Billion of International Bonds as Exports Tumble Brazil and Colombia each sold $1 billion of bonds and Chile said it may also tap international markets, part of a push by developing nations to bring in dollars to offset a six-month tumble in commodity exports.

China Asset Management Expects Stock Market to Perform Better in 2009 China’s stock market performance will be better in 2009 than last year as the government seeks to bolster the economy, said China Asset Management Co., the nation’s largest fund manager.

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